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Question 1:
a) Describe the different types of unemployment that exist.
b) Critically examine how monetary policy will be used to deal with inflation.
c) Critically determine how fiscal policy can be used to deal with unemployment.
d) What are the causes of inflation?
Question 2:
(a) Differentiate between income, price and cross elasticity of demand.
(b) Would you agree that, in order to maximize total revenue, the manager of a supermarket must understand and apply the concept of price elasticity of demand? Explain your reasoning, with the help of appropriate examples and diagrams.
(c) Discuss how a supermarket can sell many products at very low prices, despite their higher fixed costs.
How does a
Shifting the PPF Curve To raise the manufacturing of one good without reducing the production of the other, the PPF curve should shift outward. The PPF curve shifts outward as
#questASSIGNMENT #1 The demand function for Product X is given by: Qdx = 80- 2Px- 0.05P²x -0.2Py + 4Pz + 0.01I+ 2A Where: Px Price of good X $120.00 Py Price of related good y $100
What is GE Matrix?
how does economics bridge the gap between economic teory and practise
diagram of extension and contraction in demand?
During summer of 2006, China increased their reserve requirement for the banking system while maintaining a fixed target for the interbank lending interest rate. Draw a graph of th
Ask question #Minimu2. Profit maximization is theoretically the most sound but practically unattainable objective of business firms. In the light of this statement critically appra
Economic Reforms and Foreign Investment Inflows: A major objective of economic reforms was to increase foreign investment, which helps to increase capital formation of the eco
Use standard indifference curve analysis to demonstrate whether the following statement is true or false. If the objective of government welfare programs is to provide lower inc
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