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Describe how the price mechanism functions in the market oriented economy.
Illustrate the basic problems of the economy?
Illustrate the three fundamental questions of resource allocation in a society.
How the social regulations differ from the industrial regulations? Explain the types of costs and benefits that are associated with the social regulation?
Describe 2 major problems which are encountered in regulating the natural monopolies.
State the 2 government policies that are used to limit the surpluses.
Explain the important differences between the social insurance and the public assistance programs? Why Medicare is a social insurance program, however a Medicaid is the public assistance progr
Explain why the lifetime distribution of income is more equal as compared to the distribution in any specific year?
Compare and contrast the social insurance and public assistance programs.
Explain the impact of income mobility on the income distribution data.
Write the comparisons between the Bretton Woods system of exchange rates with that of gold standard. What results in the collapse of gold standard? What caused the demise of Bretton Wood
A increase in the dollar price of yen essentially specifies a fall in yen price of dollars.” Could you agree? Explain and elaborate: ‘The critical thing regarding exchange rates is that
Recognize the trade and balance of payments deficits or surpluses when provided suitable data.
Explain what is meant by the WTO, and how it relates to the international trade? What problems, if any, encountered when several extraneous efforts are tied to the efforts in order to liberali
How important is the international trade to the United States relative to other nations, explain it quantitatively?
Explain the economic impact of the tariffs, involving both the direct and indirect effects.
Specify the chief imports and exports of United States.
Compare and contrast the ‘demographic transition’ view of the population growth with traditional view that slower population growth is the prerequisite for increasing the living standard
Describe how absolute per capita income gap between the rich and the poor nations might raise, even if per capita income is increasing faster in the DVCs rather than it is in the IACs.
Illustrate the vicious circle of poverty with the help of diagram.
Describe collective bargaining process and its significance and function of judiciary as third party intervention.
Explain the role played by Monetary Policy in controlling inflation in detail. Write down the steps done by China and other developing countries in controlling inflation.
Describe control over foreign industrial investment in detail.
Describe the role of the small- scale industries in economy? Describe briefly the major recommendations of Study Group on Development of Small Enterprises.