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What do you understand by ‘History of Economic Thought’? Explain the concept of materialistic interpretation of history as envisaged by the Karl Marx.
What are the aims and merits of Advertising? What are the attributes of a better advertisement copy? Describe the monetary theory of the trade cycle.
What is meant by substitution effect ? Explain the slutsky substitution effect.Define the Resource Combination. Explain the concept of “Optimum Factor Combination”.
By using a simple demand and supply diagram describe what is meant by the term equilibrium price.
Describe with relevant diagrams the price and output determination under Perfect competition. Describe the distinction between General Equilibrium and Partial Equilibrium.
Differentiate between Sink cost and opportunity cost and hence explain the situation in which they are significant.
What is the role of the trade union movement in 2012 and beyond? Give apparent reasons for your choice of explanations.
An increase in demand curve for orange juice will be shown as aleftward shift of the demand curve, rightward shift of the demand curve, movement up along the demand curve and movement down along the d
Draw typically shaped supply and demand curves for hot dogs and indicate equilibrium price and quantity. Use graph to show what would happen to equilibrium price and quantity of hot dogs if there is
If there is a minimum wage in this industry (above equilibrium wage/price), then the effect of removing this minimum wage would be to. Rank the absolute value of the coefficient of the price elastic
A production possibility frontier demonstrate maximum combination of inputs which could be used to produce output in a typical economy or the maximum revenue which could be generated from the sale of
Illustrate the law of equi-marginal utility. Describe with the help of diagram, how does a consumer attain equilibrium?
Show that the nominal rate of interest convertible once in every 4-year is to a nominal rate of discount convertible quarterly.
Describe the concept of the Optimal Harvesting Age with an illustration.
Select one option. The income elasticity of demandis positive only, is negative only, must lie between -1 and +1, can be positive, negative, or zero.
Derive the elasticity of substitution for the Cobb-Douglas production function q = f (K, L) = AKaLb
Differentiate between foreign direct investment (FDI) and portfolio investment as sources of private foreign capital.
Describe the concept of dominant strategy equilibrium. Discuss the concept of Nash equilibrium. Is every dominant strategy equilibrium Nash equilibrium? What do you understand by subgame-perfect equ
Provided the products below and events which affect them, indicate what happens to demand or supply, and equilibrium price and quantity in a competitive market. Identify the determinant of dem
Describe the main features of Harrod-Domar Growth model. How does the Harrod Domar model describe the occurrence of trade cycles?
What is the normal probability distribution function? Also state its properties.
What do you mean by a social welfare function? If you suppose that such a function exists, what properties of social optima would be considered by you? Discuss these properties.
Use Okun's law to answer the questions; ut - ut-1 = -0.4(gyt - 3%). Assuming ut-1 = 7% Compute the change in u (ut - ut-1) for each of the following values of gyt: 5%, 7%, 9%. How much has output gr
There are some economic commentators who do not see health care as being different to other goods and services and therefore argue that we should use the private competitive market in delivering hea
There are two brands of cell phones which are almost identical apart from for some minor features: the A-Phone and the Pomegranate.