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What are the limits of national income (NY) statistics in measuring development within a country?
National income statistics simply show changes in GDP (Gross Domestic Product) over time that is economic changes. Gross Domestic Product is just one dimension of development and so is a narrow measure of economic welfare.
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What is exceptional supply curves
analyse the effect of an increase in the price of sim cards on the equilibrium price and equilibrium quantity of cellphones handsets
QUESTION (a) With reference to price elasticity of demand, discuss and illustrate the effects on government revenue of increasing value added tax on goods and services. (b)
Problem: i) Evaluate the following statement: "The First Theorem of Welfare Economics states that as long as producers and consumers act as perfect competitors and there ar
Graph the Demand and Supply Curve Given below are the demand schedule and supply schedule for china plates. Graph the demand and supply curve on one graph and determine equili
In long-term project planning, this is wise to suppose that staff will be accessible for project work for less than 100 per cent of the total accessible time. What factors will dec
the markert is said to be an invisible hand in the economic system , how
The prevention of main swings in economic activity can be handled most simply by the household sector. Explain why?
Demand
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