Merits of regional integration
Elucidate the merits of regional integration?
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Most economic specialists cite that regional integration gives disadvantaged countries to realize economies of scale, vie on a broader (or often global) platform and increase entire economic efficiency. Alassane D. Ouattara the Deputy Managing Director of the International Monetary Fund positions thatregional integration 'facilitates participating countries to pool their resources and avail themselves of regional institutional as well as human resources, in order to reach a level of administrative and technical capability that wouldn’t be probable on an individual basis'.
The employer can legally pursue a policy of: (i) Wage discrimination which is based on the race or gender. (ii) Closed shop agreements with the unions. (iii) Firing the workers who join union. (iv) Wage discrimination mainly based on the employee’s seniority. (v
The profit-maximizing firm which is perfectly competitive in the resource market however which consists of market power in the output market will hire the labor at a point where: (1) VMP = MRP = MFC = w. (2) VMP>MRP=MFC=w. (3) VMP=MRP=MFC>w. (4)
If a monopolist’s marginal revenue is zero, then: (1) total revenue is zero. (2) demand is perfectly inelastic. (3) the price of the product exceeds average cost. (4) economic profit is zero. (5) total revenue is maximized. Q : Define saving function Saving function Saving function: The relationship among saving and income is termed as saving function.
Saving function: The relationship among saving and income is termed as saving function.
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Marginal rate of transformation: This is the amount of one good which should be given to generate one additional unit of a second good. This is also termed as marginal opportunity cost.
Describe the implication of freedom of entry and exit to the firms beneath perfect competition.
An increase within investor optimism will cause: (w) interest rates to rise. (x) slower technology advances. (y) slumps in business construction. (z) interest rates to fall. Please choose the right answer from abov
Income elasticity of demand: Income elasticity of demand is the degree of receptiveness of demand to the modification in income. Q : Words of Henry George about Economic Henry George believed that: (1) landowners deserve the economic rent that their land holdings provide. (2) a single tax on land equal to the unearned surplus would pay for all needed government. (3) economic inefficiency would result from a tax on the
Henry George believed that: (1) landowners deserve the economic rent that their land holdings provide. (2) a single tax on land equal to the unearned surplus would pay for all needed government. (3) economic inefficiency would result from a tax on the
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