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Question 1:
(a) What are the characteristics of market and command economies?
(b) In a number of countries in recent years, there has been a movement towards a greater reliance on the market system. Assess to what extent this trend is beneficial for an economy.
(c) Using suitable examples, differentiate between public and merit goods.
(d) Describe, with the help of relevant examples, the relationship between private, external and social cost.
Question 2:
(a) Discuss whether international trade between countries is always beneficial.
(b) What are the economic reasons for protectionism?
(c) Does the National Income figure accurately reflect the living standard of a population?
what are the effects of interest rate in the economy of south africa in unemployment, economic groth, employment. and economic growth
Discuss about the Keynesian economists The Keynesian economist A. W. Phillips developed short-run Phillips curve analysis in the 1950s. Phillips had researched the relationshi
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5. In this question you should assume that the Marginal Propensity to Consume out of permanent income is one [i.e., no bequest motive + perfect consumption smoothing: c1, = c2 = c
Q. Relationship between L and P? • As long as L is smaller than LB, L may change with no change in prices. In this range, there is no relation between L andP. • When L is betw
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what reasons limit the bargaining power of trade union in developing countries
nature, development and function of money.
In reference to the above question, assume you know the combination of inputs that minimizes cost. What would happen to this input combination if the price of labor increased? What
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