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Problem: i) Differentiate between economic development and economic growth. ii) Describe carefully how, using the expenditure approach, national income is calculated. ii
The Hypothesis of Rational Expectations : In the General Theory (Keynes, 1936) we noted that the state of expectations was taken as given. There was, in addition, explici
When is the price of a product demand determined? The price of a product is demand defined while the product is in fixed supply. This means that the price of the product is defin
Explain the key assumptions and desired properties commonly used economics. Economists generally make all or some of the given key assumptions and a condition while they study
Please write an essay (2-2.5 pages) based on this paper You">http://www.nobelprize.org/nobel_prizes/economics/laureates/2001/akerlof-lecture.pdf You pick one over 6 macroeconomic
Sources of external economies of scale: Economies of Skilled Labour: This involves upgrading the skills of labour through the provision of education and training faci
Solve equation P=200-Qs and Qs=4.5p +5
Risk Premium - The risk premium is amount of money which a risk averse person would pay to keep away from taking a risk. * Risk Premium: A Scenario - The person has a 5%
Policies for Technological Advance Without better technology, increases in capital stock generated by investment rapidly run into diminishing returns. And without improvements
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