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Problem: i) What do you meant by the term ‘economic efficiency'? ii) By using appropriate examples differentiate between fixed and variable costs. iii) Consider different
Comparison of sameulson revealed preference theory with the Hicksian revealed preference theoru
(a) Differentiate between a command economic system and a laissez-faire. (b) Assess to what extent it is advantageous for an economy when it moves from a controlled to a free-e
In the table below are given the output (X), T.C., and Price for a firm. Complete the following table, and then answer the questions at the bottom of the table. X T.C P=A.R
Assuming the Heckscher-Ohlin model is true. Suppose the Cuba and Russia sign a free trade agreement. Furthermore, assume the Cuba and Russia only produce cigars and vodka. Russia h
Which of these will be included in US GDP for 2005? a) A car produced in Japan in 2005 and sold in the US in 2005 b) A car produced in the US in 2004 and sold in Japan in 2005 c) A
1. What is the relationship between a firm's total revenue, profit and total cost? Give an example of hypothetical data and draw the curves. 2. Define economies of scale and e
MEASURES TO PROMOTE GROWTH: In view of the recent global experience, the following steps need be taken to accelerate the rate of growth. 1) Mastering and constantly improv
Why do demand curves generally slope downward? The demand curve slopes downward because in general, the higher the price of the good, the fewer people will need to buy it.
Q. State the Keynesian Theory of employment? Under employment Theory, Govt interference Aggregate Demand- Aggregate supply- Effective demand, Income and employment consumption
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