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Question 1:
i) Use a simple human capital model to explain the rationale for undertaking higher education.
ii) Why do some people vary significantly in the amounts of human capital which they acquire? For instance, why is Jack a high school dropout, Sam a high school graduate and Richard a Ph.D?
Question 2:
Write short notes on any three of the following.
i) The structure-conduct-performance (SCP) paradigm ii) Harberger's (1954) welfare loss estimates iii) Hannah and Kay (1977) axioms iv) Female participation rates
What are the "three basic economic questions" that economists often address when examining how much economic output is formed? The three basic questions are: a) what is prod
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Is there a trade-off between inflation and unemployment? The Keynesian side posits that policies can indeed be used to stimulate demand - demand-side policies - and those mar
explain the fundamental task of economic system usin tomatoes as an example
a) The four-firm concentration ratios for the following industries have been found from the Economic Census for Manufacturing (NAICS 31-33) as follows. The four-firm concentration
graphical illustration describing the influence of an increase in immigrants on the market supply of labour
calculate demand function is Q=100-P, where Q is quantity demand and P is price
DETERMINATION OF EXCHANGE RATES: When we study the determinants of exchange rates, we must distinguish between long run determinants and short run because the determinants in
describe who gets hurt in a recession, and how.
what are the weaknes of consumer behaviour
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