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Problem:
(a) Distinguish between fiscal and monetary policy, giving examples where appropriate.
(b) Explain how fiscal and monetary policies might be used by a government during unemployment.
(c) Using hypothetical figures, distinguish between the theories of comparative and absolute advantage.
(d) Describe why a country might impose barriers to trade.
Direction of Trade: It is indicative of the structure and level of economic development. As a country develops and its trade gets diversified, it has to seek new outlets for i
Where the equation of isoquent drived from?
assignment
The demand for one of Parsons products has increased over the last few years and, despite the extensive use of overtime and weekend working, the company has been forced to sub-cont
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A farmer produces maize according to the following production function Q m = AK 1/3 L 2/3 Where Q m is output of maize, A = land, K = capital and L = labour Given that
Location of industry and localization of industry: Location of industry tries to answer the key economic question "where to produce". It involves deciding on the area that an
Criteria of a Good Forecasting Method: 1. Simplicity : and Ease of Comprehension: Management must be able to understand and have confidence in the techniques used compli
A local airline charges $500 to fly (round-trip) to Louisville, Kentucky. From the past three months, whereas the $500 fare has been in effect every of the two daily flights have a
when price falls
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