Question 1:
What might be the possible causes of inflation along with economic theory?
Question 2:
Taking stable prices and full employment as two macroeconomic objectives of government critically discuss and illustrate how fiscal and monetary policies could be used to accomplish them.
Question 3:
What factors are likely to affect the size of price elasticity of demand?
Question 4:
A publicly owned bus line is running at a loss. How can knowledge on the elasticity of demand for bus rides aid in this situation?
Question 5:
Make a distinction between economic growth and economic development.
Question 6:
Describe carefully how, using the expenditure approach, national income is computed.
Question 7:
Critically investigate the dissimilar measures of economic development.
Question 8:
Elucidate using diagrams why a 10% raise in investment leads to a higher percentage raise in National Income?