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Question 1: (a) Explain the core principles of the General Agreement on Tariff and Trade (GATT). (b) Do you think the additional principles introduced by the WTO in 1995 c
negative externalities
What is the function of multinational companies into the promotion of development? A multinational or transnational (TNCs) company operates within two or more countries across
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Is the balance of payments a problem? A persistent balance of payments shortage is bad when used to finance consumption, but good when financing imports of suitable capital wh
What is effectiveness of International Monetary Fund, in the promotion of development? Effectiveness of International Monetary Fund, in the promotion of development: Interna
QUESTION (a) Explain clearly what inflation is and elaborate on its main causes. (b) "There is a trade-off between inflation and unemployment" Do you agree with this stateme
What are the limits of development theories? Theories are generalisations: • When LDCs share similarities, each country is unique economic, cultural, social and historical
The economy of Cotai contains 2000 $1 bills. (a) If people hold all money as currency, what is the quantity of money? (b) If people hold all money as demand deposits and bank
Price Ceilings and Floors 1. Explain the impact on the market if the government imposes the following price ceilings and floors. 2. Draw two graphs, one for eggs, and one
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