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What should be the decent/appropriate growth rate in any country?
Answer: A growth rate of among 2-3% is considered normal for mature developed countries; for LICs, 5-7% is considered healthy and 7%+ is excellent.
Analyse the strengths and weaknesses of GDP as a measurement. Answer Strengths of GDP as a measurement 1) It helps in making international comparison among different
Determine the value of the marginal product of labor. Equilibrium in the Labor Market Each firm will hire labor up to the point at that the value of the marginal product of
description of slutskian approach
Economics- Definition Economics is the study of how societies utilize limited resources to make valuable commodities and allocate them among diverse people. Microeconomics h
Problems Using Point Elasticity - We may need to compute price elasticity over portion of demand curve instead of at a single point. - The price and quantity used as base wi
Plot the demand schedule and draw the demand curve for the data given for Marijuana in the case above?
Draw a marginal utility cureve for a good that has a constant marginal utility
What is main difference between capital intensive goods and primary products? Primary product means the major product in which the firm is dealing. Capital intensive good mea
1. Calculate price elasticity of demand and supply for the following functions when (a) P=8 and (b) Q=6. i. P= 40 - 0.5Q ii. Q= -40 + 0.75P iii
How does a
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