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Problem 1:
i) Is Protectionism always beneficial? Discuss.
ii) To what extent can a country actually rely on the principle of Comparative advantage before engaging in international trade?
Problem 2:
i) To what extent is economic growth beneficial to an economy?
ii) Explain using diagrams why a 10 % increase in investment leads to a higher percentage increase in National Income?
a. The diagram above depicts the current position of a hypothetical economy using the Keynesian Income/Expenditure approach. If national income is currently at Y1 explain why this
Define Nash equilibrium
Consider the following flow (in thousands of people) between the various labour market states in a particular month:
Problem 1: a. Describe the concept of opportunity cost, using the production possibility curve. b. What are the fundamental problems of an economy? Describe how the command
Creating Mobile Telephone Infrastructure: The second concept of subsidising the telecom infrastructure required for providing services in rural and remote areas is designed to
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You estimate that the price elasticity of demand for one-acre plots in Lusaka is -1.5 and that income elasticity of demand is 5. Land owners intend to increase the price of a one-a
Define the Production Possibilities Curve and explain the basic economics concepts using the PPC. Explain the factors tht shift the PPC outwards
Explain the effect of increased money supply on bond prices
how can draw the table and diagram of production function function with one veriable
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