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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?
Jeremy is an economics student who loves hamburgers. He could eat any number of them for dinner, but he gets a really bad stomach ache after eating a certain amount. In fact, his u
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Defining black economy, If you pay your cleaner or builder in cash or for some reason neglect to tell the taxman which you were paid for a service rendered, you participate in the
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critical evaluation of marginal analysis
Labor cannot be divided from the human being who provides it. The result of the inseparability of labor from the people who gives it, is that the wage for the last hour worked mus
Evaluating the Gains and Losses from the Policies of Government: Consumer and Producer Surplus * Review - Consumer surplus is total benefit or value which consumers rece
What is main difference between nominal money supply and real money supply? Real money supply is the supply of real money in the economy. Real money is supplied considering th
MRP Technique- Sectoral Distribution of Targeted Increase in GDP There are two ways of increasing the GDP: (i) Project and accomplish the growth in various sectors through
The accountants keep all the business transactions and records of a sole proprietorship separate from the business owner''s personal transactions and For legal purposes a sole prop
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