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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
explain how inflation could reduce the efficiency with which prices allocate resources.
solution
explain total productivity
WHAT IS UR AGREEMENT
A manufacturing company has determined from an analysis of its accounting and production data for a certain part that : a. Its demand is 9000 units per annum and is uniform
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The average amount of debt families have is 2.5 times their annual income with a standard deviation 0.75 times their annual income. How much debt does a family have to have (relati
How less developed countries cannot economies grow by developing services as tourism? Less developed countries cannot economies grow by developing services as tourism if: Ga
Question 1: (a) Explain the core principles of the General Agreement on Tariff and Trade (GATT). (b) Do you think the additional principles introduced by the WTO in 1995 c
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