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Problem:
i) What might be the possible causes of inflation according to economic theory?
ii) Taking stable prices and full employment as two macroeconomic objectives of government, critically write on how fiscal and monetary policies could be used to achieve them.
iii) What factors are likely to affect the size of the price elasticity of demand?
iv) A publicly owned bus line is running at a loss. How can knowledge on the elasticity of demand for bus rides help in this situation?
Hotel rooms go for $100/room and sell 1000/day; if taxed at $10/room and rate goes to $108 and 900 rooms are sold, what''s the tax revenue and dead weight loss?
how do cooperative and noncooperative games differ
who is a rational behaviour
What is methodological economics? how its significance, Describe use of methodological economics...
How might governments lower the natural rate of unemployment? An easy way to organise the answer is to separate possible solutions into two broad groups; interventionist and m
Double Jeopardy A condition where an entrepreneur's main source of income and net worth depend on the entrepreneur's organization.
National Income Determination: National Income Determination deals with what determines the size of a nation’s national income. The size of a nation’s national income is deter
Which of the following is a free good? Fresh water, forests in the northwestern United States, the advice of economists, or none of the above?
How dose PPC help, illustrate the basic economic problem?
What is meant by dumping? Dumping is when a producing country dumps goods on foreign markets at a price lower than either the price on the home market or below the cost (HL: ma
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