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a) Many are concerned that the U.S. go directly from a period of high cyclical unemployment to a period of high structural unemployment. Should an unemployed person care which label an economist applies or is out of work is just out of work?
b) In terms of economic health, what do you think is more telling, the trend in job damage or the trend in job creation? If you could only see one of these series before making a guess on the economic health of a nation, which would you want to see? Why?
What are the limitations of comparative advantage? Limitations of comparative advantage: International trade needs wide specialisation. This can have drawbacks as given b
#sources of oligopolyn..
Explain the concept of scarcity, and the role it plays in decision making
QUESTION 1 i) Distinguish between the different kinds of concentration measures ii) Briefly describe the axioms of Hannah and Kay (1977) iii) Derive and explain the Dorfm
advantages and disadvantages of commercial banking
What is factor endowment problem? Factor endowment Problem: Several LDCs have a poor factor endowment than productivity and incomes both are very low according to world
FOUR CAUSES OF SLOW OF SOUTH AFRICA ECONOMY
What is the argument of advocates of World Bank in promotion of development? Advocates of the World Bank argue: • Loans and aid alone don’t guarantee development or the
Explain about the term Traditional Economy. Traditional economy: It is where decisions regarding what, how and for whom to produce are based onto tradition and custom. A
QUESTION (a) State whether the following statements are TRUE or FALSE. Clearly explain your answer. (i)The Keynes liquidity Preference theory stipulates that money demand is
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