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Suppose there is certain social norm. Its enactment into statutory law lowers people's private cost of its enforcement because it creates the possibility that violation of norm will face civil punishment. People will start believing that other people will also enforce the norm and the expectation can be self-fulfilling. When extended we can expect policy prescriptions leading to better coordination between agents in the system.
What are objectives of fiscal policy
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various credit arrangements
Problem 1: "The public sector needs to be reformed so as to meet the challenges of the day." With special reference to Mauritius, discuss the challenges that the public sect
Draw a simple circular flow of income model for a private sector economy. Label all of the flows, as well as the markets where all exchanges take place. Describe the exchanges, a
Alice and Bob survive on hamburgers and salads. Aliceís utility function is UA = hA(sA 1) where hA and sA are her consumption of hamburgers and salads respectively. Bobís utility
Describe the basic process by which an economy moves by a business cycle. What is meant by a demand-pull inflation? How does a demand-pull inflation vary from a cost-push inflati
what id the definition of public debt burden?
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