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1. Explain externality, how can government intervene to achieve allocative efficiency in case of external cost or external benefit?2. Explain oligopoly's structure and use game theory to explain why oligopoly firms tend not to use price to compete.3. Analyse the strengths and weaknesses of GDP as a measurement.4. Distinguish frictional, structural and cyclical unemployment. How is unemployment measured? What are the costs of unemployment and how can policy makers reduce its impact?5. Explain inflation, and the difference between anticipated and unanticipated inflation. 6. Distinguish demand pull, cost push and imported inflation using graphs where appropriate. What are the likely causes of current inflation in Australia? 7. Explain why the demand curve for the Australian dollar is downward sloping, and why the supply curve for the Australian dollar is upward sloping. 8. Explain why changes in the business cycle affect the durable and non durable industries differently.9. Explain the impact of expansionary or contractionary fiscal policy on GDP. Discuss the problems of Fiscal Policy?
Discuss the costs and benefits of establishing a common currency. So, there is a convergence issue in setting up the common currency - and there will also be a convergence prob
Problem: "Mauritius offers an interesting case study of successful trade liberalization and export-led development in Sub-Saharan Africa. This is a notable achievement given t
Assume that the market for lamb is perfectly competitive. Using an appropriate model (or models) illustrate and explain a. How a competitive market arrives at equilibrium
Please provide detailed answers, showing all your work, to all five sections in problem 15.9 in the Nicholson and Snyder book. This is an individual take home task due at 11:59pm o
Q. What do you meant by Derivatives? Derivatives: A derivative is a financial asset whose resale value depends on the value of other financial assets at different points in tim
discuss the implications of various market structures(competitive and non-competitive) for price determination
1. What is simultaneous biases? Discuss the cause of ednoginity in regression analysis. 2. Explains concisely what is meant by ' the identification problem'' in the context of l
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1) Describe (with an example) how trading can lead to an increase in world output if countries specialize in the good in which they have a comparative advantage. How does the intr
Negative profit FC + VC > R(q) MR > MC Indicates higher profit at the higher output - Question: Why is profit negative when the output is zero? - Outp
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