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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.
Supply function given by equation QS = 3P - 50. Write an equation proposals if: a) Government introduces subsidies of 5 $ per unit; b) the government introduced subsidies of 15%
Real Interest Rate: Interest rate on a loan, adjusted for rate of inflation. Real interest rate represents real burden of an interest payment. Real interest rates should be positiv
Why Average Revenue= Marginal Revenue
Wealth Tax: A tax in that owners of specific forms of wealth (likereal estate, financial wealth, or inheritances) should pay a specified proportion of that wealth to government, us
find the highest premium find the actuarialy fair premium
what are criteria and conditions for pareto optimacy
Determine the economic productivity level Up until 1500 as best we can tell there had been next to no growth in output per worker for the average human for millennia. Even in 1
any ideas?
Marginal rate of technical substitution in the theory of production is similar to the concept of marginal rate of substituent to in the indifference curve analysis of consumer dema
Q. Explain the Post-Keynesian Economics? Post-Keynesian Economics: A modern heterodox school of economic thought that emphasizes more radical or non-neoclassical aspects of Joh
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