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How can the size of shadow economy estimated? The size of the shadow economy is estimated when activity is undeclared as the amount of informal activity can be calculated: a
What are the formal and informal sectors? Formal and informal sectors: Economic activities considered as to the government make up the formal sector of the economy. That
Question 1: a) Explain, with the use of examples, what is meant by the ‘Factor Endowment Theory'. b) According to you, can the ‘Factor Endowment Theory' be a reasonable e
Find quantity supplied and quantity demanded: Suppose there are 300 used cars, with 3 quality levels: bad, medium, and good. A seller knows the quality of his car but a buyer
Task 1 Your line manager has asked you what you think the accounting department's role is in relation to the organisation. In your group, discuss the main purpose of accounti
Distribution of benefits for transferring drivers to transit during a congested morning commute A residential suburb has N = 30,000 commuters who drive alone to jobs in a cen
factors that affects sthe volume of production in economy
Consider a market for a good where there is a per unit tax set at t cents per unit sold, where the demand curve slopes downward and where supply is perfectly inelastic. Suppose the
QUESTION (a) With reference to price elasticity of demand, discuss and illustrate the effects on government revenue of increasing value added tax on goods and services. (b)
What is the difference between wealth and income? Difference between wealth and income: • Wealth , which is a stock value that is the current value of assets for example b
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