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Question 1:
i) Describe the concept of circular flow of income.ii) Comment on the view that ‘GDP is the best measure to evaluate economic growth and standard of living'.iii) What is economic growth? Identify and comment briefly on the possible contributors to economic growth.
Question 2:
i) Why do people earn different amounts of wages? ii) Define productivity and illustrate carefully how firms can raise the productivity of labour.
Question 3:
Write briefly on any three of the following.
i) Human capital. ii) Wage price spiral. iii) Collective bargaining. iv) Monetary Policy. v) The backward bending supply curve.
Question 1: "The only social responsibility of business is to increase its profits" wrote Milton Friedman, Economics Nobel prize winner, in an article in the New York Times Mag
why is public finance important?
principles of multi unit finance
Question: (a) Jeffrey Sachs, Columbia University's Earth Institute Development Guru, opines that the humble mobile phone is "the single most transformative tool for developmen
What are objectives of fiscal policy
As we know now that in policy process, policy outcome may differ from the social planner outcome not only because different policies may be chosen but because a given policies may
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strugling with research variables and problem
Public Economics can broadly be understood as that Economics which deals withpublic intervention in the economy. Its domain is supposed to encompass rationalefor public interventio
QUESTION (i) "Public Sector data is seen as owned by everyone since it has been gathered about and from everyone, often compulsorily". Discuss the concepts of ‘Public data' whe
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