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Question 1: i. Explain the likely effects of a recession on a government's budget? ii. How is the operation of fiscal policy supposed to affect the level of economic activ
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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
The monetarist and fiscal controversy is still on. The recent history of the U.S. looks like a success story of the monetarists; but besides pure luck, it involved strong element o
Characteristics of IS Curve
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?
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
why is public finance important?
what is it
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