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What are the restrictions of dependency theory?
The restrictions of dependency theory:
• Self sufficiency and import-substitution strategy mean the advantages of International trade are lost and welfare decreased;
• Arrangement leads to government failure;
• Lack of competition leads to decreased consumer choice and market failure.
A Korean BBQ restaurant has four workers for washing jobs: Dane, June, Park, and Pola. Each workers eight hours a day and can produce two washing services: Washing rice bowls and w
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Problem 1: (a) Suppose the government decides to implement a minimum wage to help low-income workers. How will the minimum wage affect the demand for labor and what does this i
What are the similarities among the developing economies? Common characteristics of LDCs (Less Developed Countries) include: • Low living standards (that is low real income
What is a bowed out shape? Why does a production possibilities frontier with increasing opportunity costa have a bowed-out shape?
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WHY DO GOVERNMNETS PLACE HIGH TAX RATES ON PRODUCTS SUCH AS PETROLA ND CIGRATTES
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