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Uses of Balance of payments account: It removes the uncertainty associated with the flexible exchange rate regime and brings stability. It also indirectly imposes some anti inf
A firm has a short-run production function defined by: Q = -. 02L 2 + 8L What is the short run demand curve for labour (L) in terms of the market wage rate (w), if
During the 1990s, technological advance reduced the cost of computer chips. Explain, with the use supply and demand diagrams, how the following markets are affected in terms of pr
FIXED EXCHANGE RATE SYSTEM: National currencies are generally acceptable within the geographical boundaries of a country. As such, trade between countries typically involves
Before explaining returns to scale it will be instructive to make clear the distinction between change in the scale and changes in factor proportions. The difference between the ch
SUMMARY OF THEORY OF PRODUCTION
Monopoly: Monopoly is a market structure in which there is a single firm producing a commodity or providing a service that has no close substitutes. As the sole supplier to it
Aggregate household indebtedness: This is the purchasing power of the sum of money outstanding that households have borrowed and are currently obligated to repay. If household
QUALITY OF EMPLOYMENT : Productivity of Employment In a poor country like India being employed does not by itself necessarily ensure a decent level of living. In 1999-2000 th
using the marginal utility approach, discuss how economic theory explains the optimum pattern of consumption for an individual consumer. consider how far this analysis can explain
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