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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
What is Inherent Limitation?
money multiplier
Describe the Structural unemployment Individuals who are unemployed as their skills are no longer in demand where they live. This kind mainly results in longer spells and may r
what are the opportunity cost?
The sales counter next to the soft toy display in Shambles receives a customer every 2-4 minutes. Most of these customers (80%) are buying toys and are dealt with by the cashier i
ACCOUNTING SYSTEM-EXAMPLE I Consider a very simple economy. It consists of a. A number of households. b. A single productive organization, a 'firm' - say the Jam Corpora
P and Y are both endogenous variables and according to the quantity theory of money we need P.Y = constant. If we divide both sides by P we get Y = constant / P. Because Y = Y D i
How would the following influence the growth rates of theM1 and M2 money supply figures over time? a. an increase in the quantity of U.S. currency held overseas b. a shift of f
Stephanie Robbins is the Three Hills Power Company management analyst assigned to simulate maintenance costs. In Section 14.6 we describe the simulation of 15 generator breakdowns
occupation segregation by sex
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