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QUESTION 1
(a) In what specific ways does Becker's model of the allocation of time differ from the simple work-leisure choice model?
(b) Compare and contrast the functioning of the income and substitution effects of the two models
QUESTION 2
(a) The monopoly union model assumes that union sets wage rate while the firm sets the level of union employment, based on this wage rate. Using appropriate equations and diagram, explain carefully the functioning of the monopoly union model
(b) Comment on the direct and indirect test of the Efficient Contract model
Assess the current environmental scan factors that are relevant to the decision making process. Determine the factors that will have the greatest impact on plant operations and man
Can comparative benefit change over time? Comparative benefit is a dynamic concept. A country can obtain or lose comparative advantage overtime when there is a change within r
Write a book review of a book of your choice (chosen from the list of course reference literature) by either Joseph A. Schumpeter or Israel Kirzner about entrepreneurship and macro
Define the balance of payments problem in international capital flows. Balance of payments (BoP): It inflows capital as like: • Foreign direct investment (FDI) into machiner
Analyse the effectiveness of market approaches into promoting development. Assessing the effectiveness of some system, planned, market or mixed depends onto the choice of displ
Question 1 Explain the law of diminishing returns. What are its causes and effects? Question 2 Compare perfect and imperfect markets Question 3 A monopolist with a linea
Part 1 : Show the P/E ratio for each company. Answer the question: Which of these two firms seems to be more of a "growth stock"? Explain the reasons for your choice. Part 2:
theory of profit maximisation
What is mean by stabilization policy? Taming the Business Cycle: To decrease the severity of recessions policy efforts undertaken are termed as stabilization policy. a
Select an organization and discuss what type of information should be protected in a BIA plan. How would you ensure protection of the confidentiality of such information and preven
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