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QUESTION 1
(a) Suppose the government decides to implement a minimum wage to help low-income workers. How will the minimum wage affect the demand for labor and what does this imply about the success of the government's initiative?
(b) Explain the effects of a minimum wage on monopsonised markets.QUESTION 2
Briefly write on the following (each carries equal marks)
Define three methods than could be utilized to exercise quality control and describe the advantages and disadvantages of all. Methods comprise: • Self-checking: Rapid, ch
How do institutions influence development? Institutions development influence: Institutions matter since they give opportunities for people and firms to participate into
How does product life cycle works
Assume that the per capita income in Alfaland (with initial high per capita income) is growing quicker than it is in Betaland (with initial low per capita income). Then: the gap in
I thought I was getting an automatic answer
QUESTION (a) Explain what factors might determine the level of investment in an economy. (b) ‘If investment increases it will cause an increase in income. If income increase
What are the restrictions of unbalanced growth? The restrictions of unbalanced growth: • Frequently governments go for high status, capital-intensive and high tech projects
explain law of production
How can be comparative advantage improved? Comparative advantage can be gained or improved through: • Investment during the education and also in training • Investment wi
A sample of 58 mutual funds was taken and the mean return in the sample was 14% with a standard deviation of 9.3%. The return on a particular index of stocks (against which the mut
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