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Question 1:
i) Describe the concept of circular flow of income.ii) Comment on the view that ‘GDP is the best measure to evaluate economic growth and standard of living'.iii) What is economic growth? Identify and comment briefly on the possible contributors to economic growth.
Question 2:
i) Why do people earn different amounts of wages? ii) Define productivity and illustrate carefully how firms can raise the productivity of labour.
Question 3:
Write briefly on any three of the following.
i) Human capital. ii) Wage price spiral. iii) Collective bargaining. iv) Monetary Policy. v) The backward bending supply curve.
need assignment on supply and money
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The coordination problem relates us to not only the levels of activities like research and developments (R&D) and investments but also to the behaviour of institutions that charact
essay?
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Suppose there is certain social norm. Its enactment into statutory law lowers people's private cost of its enforcement because it creates the possibility that violation of norm wi
Explain the stages and various coordination mechanism nvolved in policy processes
The State attempts to oversee, as exemplified by Art. 39 (b) and (c) of our Constitution, that private activities may not cause harm to the common good and in case they do so corre
Introduce uncertainties in attainments of policy outcomes, winning of elections, optimistic and pessimistic expectations of agents and relate it to various adjustments and converge
Q. Describe ex-ante heterogeneity? First conflict reflects heterogeneity among agents due to different policy preferences. Individuals or agents are heterogeneous in a number o
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