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Problem 1:
i) How might unemployment arise?
ii) Critically explain how fiscal policy can be used to reduce the unemployment rate in an economy.
iii) ‘'Inflation always comes at the expense of unemployment''. Comment.
Problem 2:
i) Briefly identify the cases for government intervention in an economy.
ii) Suggest and evaluate ways of how government actually intervenes in such a situation.
Cost in the Long Run Cost minimization with the Varying Output Levels -A firm's expansion path shows minimum cost combinations of labor and capital at each level of output.
Price elasticity of supply – Computes the percentage change in quantity supplied resulting from a 1 percent variation in price. – The elasticity is usually positive as price
Use a supply and demand diagram to help explain how a city council might help to decrease traffic congestion in the city during weekends. pointing out that demand happens d
Assume that the employer (principle) wants its employee (agent) to work hard [You can safely assume that this maximizes the principle's expected profits from his business]. There a
Determinants of Private Demand - Waiting-Time for Employment ‘Waiting time’ for employment is another important factor. The waiting time varies from course to course. For inst
consumer equilibrium by indiffrence curve approach
Question You are the COO at PineApple, a company that produces notebook computers for business people. The company has just developed a new model - Pbook. For production of P
A government official announces a new policy. The country wishes to eliminate its trade deficit, but will strongly encourage financial investment from foreign firms. Explain why su
THEORY OF PRODUCTION: Production activities related to goods and services require inputs. Typically, the set of inputs includes labour, capital equipments and raw materials. T
what is non- collusioligopoly and how its price and output is determined
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