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Why do state approaches work into promoting development?
State planning and intervention is desirable due to the shortcomings of markets. The approaches range of state through planned economies by government setting outputs and prices.
Economic policy intends to protect domestic industry and encourage economic development through
• Heavy tariff barriers and a hostility to foreign direct investment to defend the home market for local firm’s for example
a. Limiting imports by quotas (limits onto the amount of imports permitted in a country)
b. High tariffs (taxes onto imports).
• High fixed swap over controls (high $/£) to create imports relatively inexpensive and exports relatively expensive
• State marketing boards purchase the output of tiny private sector farmers at well below world prices and utilize the foreign currency gain through profits to fund investment. There is low prices distort markets.
Are international capital flows a problem? Problem: Capital flows can have an adverse outcome onto: a. Balance of payments (BoP): Shortly term capital inflows can be like:
How can external trade promote economic development and growth? International trade permits increased specialisation than higher output permits economies of scale. • A big m
Financial engineering deals with the design of new assets. Draw the payoff (at t=1) of the following bull butterfly spread: Purchase 1 call with exercise price a Sell 2 calls
What are institutions? Institutions are formal organisations as like: • Government : the group of some people and institutions who control and manage a country Civic socie
What is social cohesion? Social cohesion: Social cohesion is regarding how united, cooperative, connected and trustful a society is. This cohesion desires tolerance for c
Assume that there are two types of consumers (in equal numbers). They have the following two inverse demand functions (coming from zero-income effect demand functions): Type A : p
What are the requirements of national figure to adjusting? National figures first require adjusting: • For population: Dividing Gross Domestic Product (GDP) by total populat
#question.discuss the contention that the existance of a labour market is characterised by perfect competition is a fallacy.
QUESTION (a) (i) Define the velocity of circulation of money. (ii) By comparing the Fischer's Quantity Theory of money and Keyne's Liquidity Preference Framework, explain cl
How is Harrod-Domar model used in planning? The Harrod-Domar model is helpful to government for setting target rates for saving required to deliver a specified rate of economi
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