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QUESTION
(a) What are the characteristics of command and market economies?
(b) In a number of countries in recent years, there has been a movement towards a greater reliance on the market system. Assess to what extent this trend is beneficial for an economy.
(c) Using appropriate examples, differentiate between public and merit goods.
(d) Explain, with the help of relevant examples, the relationship between private, external and social cost.
In the model with utilities W i = c i + α ln(x i ) where individuals are endowed with ability levels w p m R and form fractions π p , π m , π r with π m > π p , π r
explain why each of the following factors influence the own price elasticity of demand for a comodity 1. Consumer preferences 2. the narrowness of definiton of the commodity
Is agricultural price instability a problem for Less Developed Countries? Problem of agricultural price instability for LDCs: a. Several Less Developed Countries have a com
For any stock splits (if there were any it will look like the screen below) compare the actual and theoretical price adjustment. For example, on the day that a 2-for-1 split is ef
What is Balanced Growth theory? Balanced Growth theory: This theory argues that market is not capable to deliver growth. State approaches to development are needed since
The following data show the interest rates on 4 randomly chosen personal loans (in percents): 6.1, 5.7, 11.1, 9. Calculate the standard deviation of the sample of interest rates. (
sdnflwen
What is the argument of advocates of World Bank in promotion of development? Advocates of the World Bank argue: • Loans and aid alone don’t guarantee development or the
what is price expectation elasticity of demand?
MBA - MACROECONOMICS ASSIGNMENT Professor Instructions Abide by following points or no credit will be given for your answers: • Concise and to-the-point answersare what
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