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a) What do you understand by equilibrium National Income and to what extent is economic growth beneficial to an economy?
b) Explain using both diagrams and mathematical tools, why a 20% increase in investment leads to a higher percentage increase in National Income?
c) The best way to allocate scarce resources is by treating consumers as "kings". Discuss.
d) Differentiate between public and merit goods and explain using concrete examples, why the provision of both types of goods, needs government intervention.
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Supply-side policies Supply-side policies are intended to increase the economy's potential rate of output by increasing the supply of factor inputs, such as labour inputs and
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A cost-push inflation have as a result of workers' attempts to push up their wages. Thus, inflation does not have to be monetary phenomenon." Is this statement true, false, or unce
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Economies and diseconomies of scale are of two types- external andinternal. Internal economies and diseconomies are those which a firm reaps as a result of its own expansion. Conve
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A firm supplied 3000 pens at the rate of Rs 10. Next month, due to a rise of in the price to 22 rs per pen the supply of the firm increases to 5000 pens. Find the elasticity of sup
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