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In brief, the price of anything is based on comparative benefit. If Adam makes clocks better and cheaper than Bill, all clock production should go to Adam.
What are the characteristics of growth in developed countries? Simon Kuznets specified some characteristics for all DCs (developed countries) as illustrated below: • Gross
How do economists group countries at various stages of development? There are three major forms of classifications: • IMF: Developing and industrial, transitional economi
QUESTION (a) Explain the Law of demand and the factors affecting demand for a product or service. (b) Explain and illustrate diagrammatically how the market demand for a pro
If an economy is experiencing reduction, will the nominal interest rate be higher or lower than the real interest rate? What is the equation that relates nominal rates, inflation a
QUESTION (a) What are the main types of unemployment? (b) Mauritius has been facing an alarming rate of unemployment during the last 5 years (i) What reasons could explai
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why does the quantity of salt demanded tend to be unresponsive to changes in its price?
The reserve requirement is 20%. Assuming banks have no desire to hold excess reserves, calculate the money multiplier. Now assume the banks want to hold 20% of their reserves in ad
Suppose a $1,000 face value bond has a coupon rate of 8.5 percent, pays interest semi-yearly, and has an eight-year life. If investors are willing to take a 10.25 percent rate of r
Explain why Caerphilly are considering this model of service provision Examine the costs and benefits of joining the shared service model. Your answer should cons
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