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Problem 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.
Problem 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
Scheduling a project includes understanding the degree to a project tasks can be separation. Define the meaning of this term and what effect does partitioning have onto the schedul
Think of circumstances at home, at work, at university or into a club to which you belong. This is a situation which involves you. You want to modify the present circumstances and
Is foreign debt a problem? Foreign debt is the whole amount owed overseas through a country at an exact moment in time. Debt is a problem since • High debt imply high inter
definition, advantages and disadvantages of privatisation?
(i) Explain the term capital accumulation. (ii) Explain the different views on economic development. (iii) In the golden age of globalization countries, especially develop
Why might the point at which the long-run average cost curve levels out change over long periods of time? include a diagram.
Discuss (1) the key characteristics of the Chinese economy during the Mao era, (2) the socio-economic shortcomings that China experienced between 1949 and 1976 and (3) t
What are economic sectors? For the functions of analysis the production of goods and services can be classified in four groupings as given below: a. Primary sector b. Se
Does aid improve development? Aid improves development as: • Aid is utilized to increase productive capacity and the advantages of resultant growth is extensively spread an
Graph the Demand and Supply Curve Given below are the demand schedule and supply schedule for china plates. Graph the demand and supply curve on one graph and determine equili
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