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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.
Explanatory research is research conducted in order to describe any behavior in the market. It could be done by using questionnaires, group discussions, random sampling, interview
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#questioSuppose the US and Mexico both produce semiconductors and auto parts and the US has a comparative advantage in semiconductors while Mexico has a comparative advantage in au
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Sita expects her future earnings to be worth Rs 100. If she falls ill, her expected future earning will be Rs 25, There is a belief that she may fall ill 2 with probability of -3
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