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Problem 1:
a. Use the circular flow model to explain the concepts of injections and withdrawals.
b. Explain the concept of budget multiplier.
c. Using the concept of multiplier, show how a country's involvement in international trade impacts on its economy.
Problem 2:
a. Describe clearly what is inflation and its main causes.
b. Distinguish between the main types of unemployment.
c. Describe the relationship between inflation and unemployment in the short run and long run.
IN YOUR OWN WORDS,HOW DO YOU DIFINE TRANSPORT ECONOMICS?GIVE RELAVANT EXAMPLES OF THIS AREA OF ECONOMICS.
1. What is a resource market? 2. Describe resource demand and resource supply. 3. Define derived demand. 4. Describe the resource market demand and supply curve. 5. Define a te
Type of total outlay
national income and what is used to measure it
a) Microeconomics is concerned with decision-making within the firm, household or on the individual level, but macroeconomics is concerned with the behavior of the whole economic s
Question 1: (a) The Mauritian government is now increasingly involving the private sector in the development of the economy. How can government support effective private secto
If Coolest IceCream ice cream parlor has been closing at 5pm with $120 of marginal revenue and $80 of marginal cost for the last hour open, what should Coolest IceCream do to maxim
total revenue
The goal is to replicate a real life product development and familiarize students with the invent process of a system, component, or process to meet desired wants within realistic
law of diminshining marginal utility
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