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There are different reasons for state trading. Important reasons are given below. (i) State may directly buy the goods required by the various government departments and agencie
What is Nancy’s lifetime income as a function of her level of schooling, S? 2. What is Nancy’s lifetime income if she gets no schooling? What is it if she goes to school for all 60
Explain the term Laissez-Faire The term "laissez-faire" is used to explain an economic system where the government intervene as little as possible and leave the private sector
For the following assume that b=.95 1, If the economy is short of the full employment level by 1.5 trillion, what could be done in the simple Keynesian cross model to fill the ga
Concept of Stock Replenishment This concept assumes that stock is always available whether there is demand or not. Consider the demand for constituent items, such as componen
Problem 1: i) To what extent can a country actually rely on the principle of Comparative advantage before engaging in international trade? ii) Explain the different types
how can a price ceiling make consumers better-off? under what conditions might it make them worse off?
Does the curve represent if the risk is NOT taken and the line connecting two points on the curve represents if the risk IS taken?
different types of production funtion and curve given by different economist
GIVE EXAMPLES OF EACH OLIGOPOLY MODELS FROM REAL LIFE
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