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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
how does the effect of inflation affect the spending ability of fixed income earners
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Why is debt management difficult in Less Developed Countries? One of the biggest challenges facing Less Developed Countries debt management is making sure $ interest payments c
QUESTION (a) Explain the term Balance of Payments (BOP) and how a government would intervene to correct a BOP deficit. (b) Explain the protectionist measures that a governme
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What is the definition of land productivity?
Why do state approaches work into promoting development? State planning and intervention is desirable due to the shortcomings of markets. The approaches range of state through
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