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Industrial Policy: Government policies which are aimed at fostering the domestic development of particular desirable or productive industries, in order to enhance productivity, create higher-paid jobs, and boost international trade performance. Tools of industrial policy can include measures to stimulate investment in targeted industries; trade policies (like tariffs, limits on imports orexport incentives); and technology policies.
Derived demand and Demand schedule: D erived demand is where the demand for a final product leads to the demand for a second product which is used to produce this final p
What are the Policies and Long-Run Growth In many concerns it is decidedly odd that world distribution of output per worker is as unequal as it is. Migration, World trade and f
The elasticity coefficient is a number measured using price and quantity data to verify how responsive consumers are to changes in the price of a commodity. The elasticity coeffic
Phillips Curve and Inflation-Unemployment in policy making : In the General Theory (Keynes, 1936) we noted that the state of expectations was taken as given. There was, in ad
What is contraction of supply?
1. Assume that Malaysia can produce cencaluk at 25 bottles per worker and belacan at RM5 per worker. Assume that Indonesia can produce 10 bottles of cencaluk per worker and 20 pack
When the price of candy bars increased from $.45 to $.55 the quantity demanded changed from 21,000 per day to 19,000 per day. In this range the price elasticity of demand for cand
Explain the micro and macro economic issues that can be represented on the PPC
a) Consider the following flows (in thousand of people) between the various labour market states in a particular month: UE = 240 000; UNLF = 180 000; EU = 190 000; NLFU = 220 000
What is methodological economics? how its significance, Describe use of methodological economics...
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