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What should be the decent/appropriate growth rate in any country? Answer: A growth rate of among 2-3% is considered normal for mature developed countries; for LICs, 5-7% is
Rationale for government intervention There are six major functions the government can perform in an economy. 1. The government provides a legal and social framework within which
how advertisement affects the sales revenue of a firm ?
Differentiate between oscillation and damp cobweb model
Unemployment Rate A measure of labor force utilization the unemployment rate is equal to the number of people which is unemployed as a percentage of the total labor force.
Define law of supply. Quantity supplied rises as price raises, other things constant. In other words, "Other things being equivalent, when the price of a product rises, then s
different types of production funtion and curve given by different economist
Cyclical Fluctuations: Consider a situation where the value of money above trend indicates an unexpectedly high level of money in the recent past. The model predicts that this
Discuss how the opportunity cost principle influence a supplier''s decision to supply labour
U+v, UV, u/v
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