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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
What are Harrod-Domar assumptions? The H-D (Harrod-Domar) model assumes as: • Fixed capital output ratio. Nonetheless, diminishing marginal returns to capital element exist
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S M Construction has been awarded a contract to build a new manufacturing plant just outside Cardiff. The activity on arrow table below gives data on the activities involved in the
What is the current economic status of abaca farming?
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 the major area of decision making ? How does economic theory contribute to managerial decision ?
What is Conditionality? Conditionality is the needs imposed onto countries as pre-conditions for loans. Into crisis situations member countries seek assist from the IMF for
Distribution of benefits for transferring drivers to transit during a congested morning commute A residential suburb has N = 30,000 commuters who drive alone to jobs in a cen
What are colonial background countries of the development process? A colony is a country controlled by other. Various European countries had extensive empires as: • Latin
Suppose that EBV is considering a $5m Series A investment in Newco. EBV proposes to structure the investment as 5m shares of CP with FV of $5m, one-to-one conversion to common, and
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