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What are the basic questions to be answered by economic institution? Four fundamental questions should be answered by any economic institution as: a. What goods and services
Suppose you are a regulator in charge of allocating water between residential and agricultural users (farmers) in Southern California. You conduct a survey that finds that under th
#questionLook up the real GDP of the U.S. for the 4th quarter of 2007 and compare it with the real GDP for the 2nd quarter of 2012. What does this tell you about the performance of
What are externalities? Give an example of positive and negative externality and explain why the market outcomes are inefficient in the presence of externalities?
What defines the fact that the value of global production has grown by a factor of 4.6, while the value of global production per capita has grown by a factor of 2? The enhance
1. What are the uses of elasticity to the public sector and private sector? (20 marks)
use a graphical illustration to describe briefly what the influence of each of the following be on the market supply of labour,(a) an increase in immigrants, (b) a reduction in wag
the basic circular flow model suggests that...
In June 2009, Textile co. (a domestically located firm) purchased 1000 yards of cloth from India (a foreign country) for $1000. Textile co. hired Elizabeth and paid her $5000 to s
concept of supply
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