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Question 1:
Critically analyse the costs of inflation. Which of these items is likely to have encouraged many governments in their adoption of inflation as public enemy number one?
(a) Distinguish between static and dynamic gains from trade.
(b) Explain clearly, with the help of diagrams, the welfare effects of an import tariff assuming
(i) the economy is small (ii) the economy is large
Question 2:
(a) Critically analyse the main types of unemployment
(b) ‘There is no relationship between inflation and unemployment either in the short run or in the long run' Discuss
Recently, a bank was trying to decide what fee to charge for "expedited payments" - payments that the bank would transmit extra-speedily to enable customers to avoid late fees on c
discuss four weaknesses of using national income statistics in comparing living standards between two countries
Whenever real GDP declines, nominal GDP must also decline
Q. Control of ochratoxin? Control: Once ochratoxin A has been formed in a food, it is difficult to remove by most forms of food processing. Cooking with or without previous soa
a good is classified as inferior if a. consumers buy less when the price rises b. consumers buy less when the income rises c. consumers buy less when the price falls d.
The financial crisis that hit the United States first and then the world economy starting in fall 2007 meant that the future prospects of many firms looked gloomy at best for some
Relate overnight interest rates with interest rates By controlling overnight interest rates, the central bank will affect the interest rates with longer maturity. The reason f
A lobster catcher spends $12 500 per month to maintain a lobster boat. He plans to catch an average of 20 days per month during lobster season. For each day, he must allow approx
Q. Explain about Citrinin fungi? Penicillin citrinum, P.viridicatum and some other fungi produce this mycotoxin. It has been recovered from polished rice, moldy bread, country
What does a shift in the demand to the right mean? Why does the demand curve shift?
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