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How might one assess if a country in experiencing both growth and development? This is a matter of explaining clearly both growth and development; growth is an enhance in GDP (
What is an optimization in the methods of mathematics of modern economics? Optimization is a basic tool for the development of modern microeconomics analysis. Many of economic
What are the three major types of unemployment? a) Frictional b) Structural and c) Cyclical unemployment. Cyclical unemployment is broadly spread by an economy durin
Normal profit: Normal profit is when total revenue is exactly equal to total cost when the latter includes both explicit costs. It is the type of profit when made by firms in
Assess whether market economies have been more successful than planned economies in providing welfare for citizens. The student is expected to outline some of the basic issues
Distinguish between interventionist and market-led strategies of development. Explanation of interventionist strategy; heavy government involvement in the planning of output, p
a severe restriction occurs to the availability of consumer credit throughout the banking and finance system
"Describe the current Australian economic situation and support your claims with relevant economic indicators and variables. The RBA has maintained the cash rate of 4.75% for the
Some Cost Considerations for Managers * Three guidelines for estimating the marginal cost(MC): 1) Average variable cost should not be used as substitute for the marginal cost(
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