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according to Tobin 1993,examples of Keynesian unemployment includes situation where
Distinguish between the terms of trade and the balance of trade. Basic explanation of the terms of trade as the average price of exports in relation to the average price of imp
RATIONAL EXPECTATIONS AND ECONOMIC THEORY : We assumed above that the role of economic theory is not to provide quantitative predictions about the future. Suppose we assume ins
a) Explain the perverse incentive. b) What makes the incentive perverse? c) How could the incentive makers better the incentive?
why diminish MRS?
Ask questi‘Social welfare functions embody a normative conception of the relative importance of equity and efficiency’. With the aid of diagrams, illustrate and explain this propos
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EMPLOYMENT AND UNEMPLOYMENT POLICY: Engagement of a person in any economic activity is central to the concept of identifying a worker. A worker is one who participates in any
Consider 2 firms i=1,2 producing quantities q1 and q2 respectively. Let the market price be given by P=a-b(q1+q2). Firm 1''s Marginal cost c is common knowledge but 2''s cost is no
Employer’s Estimates of Future Manpower Requirements One of the parameters of demand for employment in a firm or a factory or an establishment is the level of capital investme
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