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Problem 1:
(a) In what specific ways does Becker's model of the allocation of time differ from the simple work-leisure choice model?
(b) Compare and contrast the functioning of the income and substitution effects of the two models.
Problem 2:
(a) The monopoly union model assumes that union sets wage rate while the firm sets the level of union employment, based on this wage rate. Using appropriate equations and diagram, explain carefully the functioning of the monopoly union model.
(b) Comment on the direct and indirect test of the Efficient Contract model
What are the disadvantages of informal economy? Disadvantages of the informal sector are as illustrated below: • don’t pay direct taxes; • Can produce important pollutio
(a) Show the importance of Non Profit Organisations in Small Island Economies. (b) Show the importance of Foreign Direct Investment in Small Island Economies. Comment on th
What is the effectiveness of Non-Government Organisations, within the promotion of development? Critics argue NGOs (Non-Government Organisations): • Are self-serving and se
Consider the following model: Y*i= β 0 X t β 1e U t a) Using the stock adjustment model, estimate the short-run and long-run elasticities b) Comment on the following pr
how starting assignment on this topic
Price Ceilings and Floors 1. Explain the impact on the market if the government imposes the following price ceilings and floors. 2. Draw two graphs, one for eggs, and one
explain major decisions in successful implementation of sales promotion programs
You are allocating money between pizza and Chinese food over a month. You like a variety. (a) Letting C denote the quantity of Chinese meals you consume in a month and P denot
QUESTION (a) Explain the law of demand and the factors affecting demand. (b) Explain and illustrate how demand of a commodity will change if there is a tax on that product.
FOUR CAUSES OF SLOW OF SOUTH AFRICA ECONOMY
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