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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
Why are economies developed of less developed countries by growing its secondary sector? Economies cannot grow of less developed countries by developing its secondary sector si
I have exam in economics
Is agricultural price instability a problem for Less Developed Countries? Problem of agricultural price instability for LDCs: a. Several Less Developed Countries have a com
What is the Heavily Indebted Poor Country Initiative? The Heavily Indebted Poor Country (HIPC) aims to assist the poorest, most heavily indebted countries prevent by unsustain
Numerical Exercise 11. Suppose that the Fed’s inflation target is 2 percent, potential output growth is 3.5 percent, and velocity is a function of how much the interest rate differ
advantages and disadvantages of commercial banking
QUESTION 1 (a) Explain the concept price discrimination? (b) Discuss the views that price discrimination always operates in the public interest. QUESTION 2 (a) Descr
1. Consider the market where there is product differentiation with two firms. The firms are choosing prices p1 and p2 and have demands given by q1 = 40 - 0.5 p1 + p2 q2 = 60
theory of profit maximisation
Explain foreign direct investment: 1. Identify and briefly explain three costs of foreign direct investment (FDI) for a country such as China (the home country) and two benef
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