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What are the national figures? National income figures: • Do not measure social, non-economic, quality of life indicators as like life expectancy that access to educatio
Things like housing and autos tend to be affected by changes in interest rates due to financing is typically needed to make such purchases. If financing becomes more costly due to
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
What are the limitations of comparative advantage? Limitations of comparative advantage: International trade needs wide specialisation. This can have drawbacks as given b
At which of the stages in the tipical structure of a company is a business given an identity separate from its owners?
what is fixed vs.flexible rate of exchange agreement?
a) What is the curse embodied in the standard production function? How does technological advance permit an economy to avoid this curse? b ) In what significant way doe
QUESTION 1) Explain the term Balance of Payments (BOP) and how a government would intervene to correct a BOP deficit. 2) Explain the protectionist measures that a government
What are the constraints facing governments in the promotion of development? The constraints facing governments into the promotion of development: The capability of a govern
What are the predictions of balanced growth? When government can co-ordinate immediate investment in several industries one firm gives a market for another. It needs state pla
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