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COMPONENTS OF TRADE POLICY: External sector reforms beginning with 1991 included dismantling of trade restrictions along with tariff rationalization, a move towards current a
Energy Infrastructure: Electricity is one of the main determinants of the quality of life. In India, the power sector has not kept pace with the growth in demand resulting in
I. Consider the following static optimization problem. Suppose that a consumer has financial wealth W and owns the house H¯ . She has utility over housing H and nonhousing co
The United States is considered to be an industrialized nation because we have such a high standard of living. Countries with lower standards of living are considered to be emergin
Some countries that supply oil to petrol manufacturers are located in or near the Middle East, others are not located in or near the Middle East. (i) Does the war benefit or har
State in brief the Nominal wage level In macroeconomics, we are generally not interested in the wage for a specific individual though in the average wage for all employed indi
HOW CAN CENTRAL BANK INFLUENCE THE STABILITY OF THE BANKING SYSTEM?
POSITIVE AND NORMATIVE ECONOMICS Economics as a social science adopts an analytical approach to the study of changes in economic variables on the actions of human beings. Th
Bob's Bee is a small boutique honey manufacturer in Texas. Bob's neighbor is Jon's James. The more honey Bob produces, the more jam Jon is able to produce; that is, there is
The _______________ illustrates the notion of opportunity cost. If an economy is fully utilizing its resources, it can produce more of one product only if it produces less of anoth
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