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Problem 1:
(a) What are the main assumptions behind the macroeconomic theory of New Classical Economists?
(b) Describe the Lucas Supply function and explain its policy implications?
Problem 2:
(a) Analyse the activist/non activist policy debate.
(b) What is time inconsistency in monetary policy and what are the classical solutions to this problem?
Question 1: Tourism is often seen as a way of generating income, particularly foreign exchange. The economic spin-off effects are viewed as the most important aspect of touris
Reasons for International Trade?
What is "high-powered money"? The "high-powered money" is the similar as monetary base, which is defined, at the minimum, as the sum of the currency in circulation (banknotes
Explain the figure of say''s law of market
What are the basic questions to be answered by economic institution? Four fundamental questions should be answered by any economic institution as: a. What goods and services
#question#.problems and its solution of microecnomics
Draw a marginal utility cureve for a good that has a constant marginal utility
Outline the possible negative effects of import-substitution policies. Define and outline import-substitution; focus on reducing domestic reliance on imports by implementing hi
Assume that in the market there exist two types of workers where the principle cannot distinguish types. The two types only differ with respect to the disutility of effort. The dis
Identify path of growth and development to economic maturity.
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