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Question 1: ‘The WTO was set up with the intention of regulating international trade between countries'. How successful has the WTO been in attaining its objectives? Questi
Discuss about the free market economy in short. Free market economy: Households own resources and markets assign resources throughout the price mechanism. An increase wi
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
QUESTION 1 (a) Explain the relationship between scarcity, choice and opportunity cost. (b) How is choice about the use of scarce resources made in a market economy? QUES
explain the role scarcity of resources plays in economic decision making
Question 1 ‘The consumer is always king in the market place'. Critically examine this statement, highlighting the existence of market imperfections. Question 2 (a) Dis
What is effectiveness of International Monetary Fund, in the promotion of development? Effectiveness of International Monetary Fund, in the promotion of development: Interna
What are the disadvantages of informal economy? Disadvantages of the informal sector are as illustrated below: • don’t pay direct taxes; • Can produce important pollutio
Define the difference between effort and elapsed time. What is the importance of this difference for project planning purposes? Effort is the whole volume of work included in a
Why is not Aid improving development? Aid not improves development because: • Aid is spent on current consumption • It is spent on unsuitable capital as opposed to suitab
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