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(a) Differentiate between a command economic system and a laissez-faire.
(b) Assess to what extent it is advantageous for an economy when it moves from a controlled to a free-enterprise system.
(c) Describe the relationship between scarcity choice and opportunity cost.
(d) One major objective of various firms is to grow big in size. Explain why this is so.
Differentiate between nominal and real exchange rate. Nominal exchange rate is the rate which actually prevails in the foreign swap market. The real exchange rate is the rate
It is also known a sleadig indicators forecasting National Bureau of Economic Research of U. S.A has identified three types of indicate Leading indicators coincidental indicators a
What population information is needed by local authorities to provide the right number of primary and secondary school places? How would such information affect the plans of the lo
current rate of gdp
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Transactions demand for money: Transactions demand for money represents cash balances held by economic agents in order to carry outordinary everyday transactions.For example,
When there is a positive expected rate of inflation (i.e., an expected and sustained increase in the levels of all prices), the Benefit Cost Ratio of a proposed project will take o
What is the theory of second best? Prove the theorem with the help of diagram.
#question.Question: Answer all parts (a, b, c, d, e & f). Consider the following insurance market. There are two states of the world, B and G, and two types of consumers, H and L,
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