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Problem 1:
(a) Suppose the government decides to implement a minimum wage to help low-income workers. How will the minimum wage affect the demand for labor and what does this imply about the success of the government's initiative?
(b) Explain the effects of a minimum wage on monopsonised markets.
Problem 2:
Briefly write on the following (each carries equal marks):
(a) General and Specific Training
(b) Determinants of Migration
(c) Causes of Fringe Benefit Growth
(a) Using the basic concept of price elasticity of demand for his product, describe how the producer may raise his total revenue. (b) With reference to an initial set of marke
How can external trade promote economic development and growth? International trade permits increased specialisation than higher output permits economies of scale. • A big m
Why might the point at which the long-run average cost curve levels out change over long periods of time? include a diagram.
uses of discounting principals
summary
What are the limits of national income (NY) statistics in measuring development within a country? National income statistics simply show changes in GDP (Gross Domestic Product)
How do i come up with a project based on the above topic
Do policies that work in one country always work in another? Less developed countries are similar but diverse in terms of history, institutions, culture and governance and man
The end of fixed exchange rates
You are evaluating two (mutually exclusive) methods of strip-mining a resource-rich area. The alternatives are very similar, though one important difference is in the scale of the
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