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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.
Explain short run costs breifly.. In analyzing factor cost in an environment, accountants and economists speak much the same language. This is become, in a competitive market,
Problem-solving question: Use the following data for a firm’s output at various levels of employment (L) to calculate: a) its marginal physical product of labor (MPPL) schedule; (
A1. Given the following production function Level of fertilizer Level of maize 0 0 1 44.9 2 83.6 3 110.1 4 127.3 5 136.9 6 139.9 7 137.1 8 129.2 a) Calculate the APP, MPP and elas
QUESTION 1 (a) In what specific ways does Becker's model of the allocation of time differ from the simple work-leisure choice model? (b) Compare and contrast the functioning
S M Construction has been awarded a contract to build a new manufacturing plant just outside Cardiff. The activity on arrow table below gives data on the activities involved in the
What are the critics of advocates of World Bank in promotion of development? Critics of the World Bank argue: • A one-size-fits all strategy which does not take account
Assume the marginal propensity to consume (MPC) is 0.9. Starting from equilibrium, investment demand enhances by 50. How much does equilibrium income enhance? Show the calcul
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How has the definition of diversity changed over time? Can a diverse workforce help a company compete more effectively? How?
what do you call an entrepreneur using someone elses ideas to start a business
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