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Problem :
(a) Describe inflation and discuss its origin using Classical and Keynesian theories.
(b) Describe with diagram how can inflation occur in an economy with substantial unemployment of factors of production.
(c) Comment on the effects of inflation in the economy and the measures to control the inflation.
Burden of the national debt The extent of the burden on a nation of public debt, depends in the first place on whether it is an external or an internal debt. The burden of th
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1. Define 'Arc Elasticity'. 2. Explain the law of 'Diminishing marginal returns'. 3. What is 'Prisoner's Dilemma', of non cooperative game? 4. What is 'Third degree Discrimation'?
Theories associated with different market structures A firms profit maximising output decisions take into account the market structure under that they operate. There are 4 type
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