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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?
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#question.using a well illustrated diagram, explain the concept of producers equilibrium .
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What is pigovian welfare economics
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In his 2009 budget proposal for the U.S., President Obama wrote, "Unfortunately, we are also inheriting the worst economic crisis since the Great Depression which will force us to
"Describe the current Australian economic situation and support your claims with relevant economic indicators and variables. The RBA has maintained the cash rate of 4.75% for the
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