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Problem 1:
i) ‘There is a trade-off between inflation and unemployment.' Do you agree with this statement? Justify your example using appropriate diagrams.
ii) Mauritius is actually facing a problem of high unemployment. What measures can be taken to remedy the situation?
Problem 2:
i) What do you meant by the term ‘economic efficiency'?
ii) A perfectly competitive firm is better than a monopolistic firm in terms of economic efficiency. show
iii) What are the advantages and disadvantages of a monopoly market?
List and describe the determinants of the price elasticity of demand and of supply.
Explain opportunity costs using a PPF where investment goods are on one axis and consumption goods on the other. Again, a good definition of opportunity costs linked to the not
an increase in immigrants
Briefly explain the main macroeconomic objectives of governments. Definition of macroeconomic issues Growth a) Enhance in national income per unit of time, a
what is traditional economy 2 features of traditional economy
Explain the monopolistic competition model of equilibrium with price competition under chamberlin s model
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different btn elesticity of demand and inelasticity of demand
Define Nash equilibrium
What are the three approaches to measuring GDP? The three approaches are: a) The production approach, b) The spending approach and c) The income approach.
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