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A change in the legal statute may be able to force an equilibrium if it leads to a new equilibrium which implies some revised belief which sustains the equilibrium. Tirole (1996) developed a model to study group reputation and demonstrated that an anticorruption programme of sufficient duration and severity can play in switching an economy from high corruption with sustained belief it to one with low corruption and sustained belief for it. This shift has wide spread impact on all most all the sectors of the economy.
Graphthe market for water park business, labeling the demand curve, the social-value curve, the market equilibrium level of output, and the efficient level of output. What is the p
Jack and Jill live alone on an island. Their labour supply schedules are identical and given by L = (1 - t)w, where t is the income tax rate and w denotes the wage. Jill's wage i
Question 1: Examine the essential elements of modern democratic societies. Question 2: State the various ways in which the participation of people is achieved in a demo
Problem: (a) What do you meant by public policy? What does the study of public policy involve? (b) How are problems that might lead to public policy identified and defined?
Question 1: "The only social responsibility of business is to increase its profits" wrote Milton Friedman, Economics Nobel prize winner, in an article in the New York Times Mag
what is public debt. ? give complate information on public debt. ?
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Recent standardized test scores suggest that the Milwaukee Public School system is facing a profound moment of crisis, a reality shared by school districts in many other US cities.
In terms of the debate in the media on state owned enterprises ,explain the decreasing cost case and the possibility of privatisation of SOEs such as Eskom and SAA
Case study
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