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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
Problem: (a) Critically asses the difference between economic growth and economic development. (b) Describe the definition of economic development as a multidimensional pro
What are factor endowment implications? Implications of factor endowment: • Less Developed Countries to specialise and export labour intensive goods, agriculture or commodit
What is the t-value associated with 25 degrees of freedom and 20% in the tail? (Please round your answer to 3 decimal places)
What are the limits of development theories? Theories are generalisations: • When LDCs share similarities, each country is unique economic, cultural, social and historical
my fgeind lewis wants ro know about hard and soft hr and whats good and whats bad about it so cabn u answer pelase
A member of your team shows disruptive behaviour. Her work is excellent but she is not a team player. The results are that she does not make a payment to team effort and her collea
Ask question #. Explain why under fixed exchange rates the monetary policy is not effective#
What is Employment and Unemployment? Employment and Unemployment: Employment: It is the number of people working within the economy. Unemployment: It is the nu
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price elasticity of demand for luxury goods in india
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