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Q. Show the Different kinds of unemployment? All unemployed individuals are presumed to belong to exactly one of these categories so that if we sum unemployment from each categ
Q. Illustrate neo-classical growth model? The main purpose of another significant growth model, neo-classical growth model, is to explain how it is possible to have a permanent
Q. Classical model and the long-term Phillips curve? In classical model, L and real wage are determined from equilibrium conditions in the labor market. L and W/P, hence, are o
Using production possibility frontiers, and indifference curves for Argentina and Brazil, illustrate and explain the movement of both countries to the free-trade equilibrium patter
Component of balance payment: BOP is a statement that summarises all the economic transactions between residents (individuals, companies and other organisations) of the home
Subsidy programs are likely to have a number of secondary effects in addition to the direct effect on dairy prices. What impact do you suppose farm subsidies are likely to have on
However, these results should be approached with due caution. The limitations and problems associated with VAR modelling have been outlined in this paper, therefore these observati
what does phillip curve signify? how do you reconcile the difference in the shap of the curve in the short run and the long run?
Explain the concept of elasticity and describe why the supply of petrol in the short run is relatively inelastic.
Assume a competitive industry with two hospitals. The hospitals compete in price (such that P = MC ), face the inverse demand curve =10 - Q , and have a constant marginal cost of
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