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What are the characteristics of the informal sector? The characteristics of the informal sector comprise: • working for yourself quite than an employer, • Small scale ent
Demonstrate graphically the cost of income taxation of 30% to consumers and producers for an income of $27,908. How does the taxation change if the income was $220,874? How does
If an economy is experiencing reduction, will the nominal interest rate be higher or lower than the real interest rate? What is the equation that relates nominal rates, inflation a
The factors that affect the volume of production in economics
Lottery Ticket Win! You win the lottery and are promised by the Lottery Commission $12,000 a year for 6 years, starting next year. Assume the interest rate is 9%. What is the pre
What is matrix algebra, give some examples and its types
Your project is behind schedule and you are seeing adding extra employees to the team. What would be the potential benefits and drawbacks of this approach? Given that the slipp
Problem 1: (a) Suppose the government decides to implement a minimum wage to help low-income workers. How will the minimum wage affect the demand for labor and what does this i
explain the role scarcity of resources plays in economic decision making
in the banking systems, when clearing checks, the difference between the Federal Reserve''s credits and debits is the
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