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a) A country should always protect its domestic industries. Discuss.
b) To what extent can a country actually rely on the principle of Comparative Advantage before engaging in international trade?
c) "The trade-off between unemployment and inflation arise due to adaptive expectations." Comment on this statement.
d) The best way to deal with price rises is to increase income tax and reduce the purchasing power of individuals. Discuss.
Q. Types of production function? Production function is of two different forms: The variable proportion production function The fixed proportion production functio
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Types of Price Elasticity of demand a) Perfectly inelastic demand Demand is said to be perfectly inelastic if changes in price have no the quantity demanded so
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Illustrate the concept of present value. The Concept of Present Value: While someone borrows money for a year, there the interest rate is the price, computed as a percent
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