Define consumer sovereignty?
-Refers to the willingness,ability and freedom of the consumer to influence the fundamental of economic decision and resource allocation.
Kalis answered the question on March 23, 2018 at 13:45
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Date posted: March 23, 2018. Answers (1)
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The following information represents the National Income Model of an ‘Utopian’ economy.
Y = C + I + G
C = a + b(Y – T)
T = d + tY
I = IO
G = GO
Where a > O; O < b < 1
d > O; O < t < 1
T = Taxes
I = Investment
G = Government Expenditure
(i) Explain the economic interpretation of the parameters a,b,d and t.
(ii) Find the equilibrium values of income, consumption and taxes.
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(i) Seasonal and casual unemployment. ...(Solved)
(a) Citing practical examples, explain the differences between the following types of unemployment listed below and how each affects economic growth.
(i) Seasonal and casual unemployment.
(ii) Disguised and unproductive unemployment.
(b) Outline policies which if implemented would alleviate the problem of unemployment.
Date posted: March 16, 2018. Answers (1)
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(b) Briefly explain how national income is measured.
(c) Give reasons why it is difficult to compare the national income of...(Solved)
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(b) Briefly explain how national income is measured.
(c) Give reasons why it is difficult to compare the national income of one country with the national income of another country.
(d) Outline the factors that determine the level of national income of a country.
Date posted: March 16, 2018. Answers (1)
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(b) Identify and explain the functions of...(Solved)
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(d) Explain any four qualities of money.
Date posted: March 16, 2018. Answers (1)
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Date posted: March 16, 2018. Answers (1)
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