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Question 1: i) Describe the concept of circular flow of income. ii) Comment on the view that ‘GDP is the best measure to evaluate economic growth and standard of living'. iii)
how to make summarize the basic tenets of the arguments in the case of Mark Davis 2010 of journal of liberty?
U=4X+G where X is private spending and G is public spending. what is the marginal rate of substitution between public and private
what is volume of production and the factors influencing them
With a background from the previous section we now study some of the critical characteristics of policy process. You have already studied earlier various technical theories relatin
‘…Policies that promote residential mobility and increase the knowledge of the consumer-voter will improve the allocation of government expenditures in the same sense that mobility
what are the costs and consequences of providing the subsidies and welfare?
Consider an economy in which George and Harriet consume only ale and bread
According to estimates by Goolsbee and Petrin (2004), the elasticity of demand for basic cable service is ?0.51, and the elasticity of demand for direct broadcast satellites is ?7.
explanation and justify the condition of pareto optimality and verify the defination of contrect curve. statment; reallocation of the resources from 1 efficient point to another ef
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