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Q. What is Cost effectiveness analysis?
Cost effectiveness analysis A method which seeks to identify the least cost option for meeting a particular objective. It actives prioritisation between options, but ultimately cannot assess whether an option is economically worthwhile.
For the following assume that b=.95 1, If the economy is short of the full employment level by 1.5 trillion, what could be done in the simple Keynesian cross model to fill the ga
Valence Bond Theory Explains, but does not predict the shape. Valence Bond Theory Cannot explain colour and spectra. Valence Bond Theory Qualitative explanations; does not expl
Describing Risk * To measure risk we should know: 1) All the outcomes which are possible. 2) The probability that each outcome will occur. * Interpreting Probability
Elasticities of supply and demand Other Demand Elasticities – Income elasticity of demand calculates the percentage change in quantity demanded resulting fro
For each of following production functions, comment on the ability to substitute capital for labor. Note that Q, K, and L denote output, capital, and labor respectively. A: B
The income elasticity of demand calculates the responsiveness of the quantity demanded of a commodity to changes in consumers' incomes. This is typically calculated by replacing t
Floating exchange rates There are two basic systems that can be used to determine the exchange rate between one country's currency and another's: a floating exchange rates (al
1) What are the most important challenges that economists try to address? (2) What is the role of government in a market based economy? (3) Who are the main economic players
what is the significance of the Loucas critique in political economy?
if the inverse demand curve is p=120-Q and the marginal cost constant at 10, how does the monopoly a specific tax of 10 per unif affect the monopoly optimum and welfare of consumer
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