Last exams 2021

Explain why “deteriorating terms of trade have resulted in a worsening of the current account” in South Sudan (paragraph [4]).

Explain why “deteriorating terms of trade have resulted in a worsening of the current account” in South Sudan (paragraph [4]).

Explain why “deteriorating terms of trade have resulted in a worsening of the current account” in South Sudan (paragraph [4]).

Explain the relationship between the law of diminishing returns and a firm’s short-run cost curves.

Explain the relationship between the law of diminishing returns and a firm’s short-run cost curves.

Explain the relationship between the law of diminishing returns and a firm’s short-run cost curves.

Explain how two types of economies of scale can lead to a fall in long-run average costs.

Explain how two types of economies of scale can lead to a fall in long-run average costs.

Explain how two types of economies of scale can lead to a fall in long-run average costs.

Table 1 provides information about Good X and Good Y, which are related goods.

Table 1

Using Table 1, calculate the cross price elasticity of demand between Good X and Good Y when the price of Good X increases.

Table 1 provides information about Good X and Good Y, which are related goods.

Table 1

Using Table 1, calculate the cross price elasticity of demand between Good X and Good Y when the price of Good X increases.

Table 1 provides information about Good X and Good Y, which are related goods.

Table 1

Using Table 1, calculate the cross price elasticity of demand between Good X and Good Y when the price of Good X increases.

Evaluate the importance of cross price elasticity of demand for a business selling a good if the price of a related good increases.

Evaluate the importance of cross price elasticity of demand for a business selling a good if the price of a related good increases.

Evaluate the importance of cross price elasticity of demand for a business selling a good if the price of a related good increases.

Discuss the view that competitive markets will always achieve allocative efficiency.

Discuss the view that competitive markets will always achieve allocative efficiency.

Discuss the view that competitive markets will always achieve allocative efficiency.

Evaluate the view that the best way to reduce income inequality in a country is by using progressive taxation.

Evaluate the view that the best way to reduce income inequality in a country is by using progressive taxation.

Evaluate the view that the best way to reduce income inequality in a country is by using progressive taxation.

Explain how expansionary fiscal policy could be used to close a deflationary (recessionary) gap.

Explain how expansionary fiscal policy could be used to close a deflationary (recessionary) gap.

Explain how expansionary fiscal policy could be used to close a deflationary (recessionary) gap.

A government decides to impose an indirect tax on unhealthy drinks. Discuss the consequences for the stakeholders in these markets.

A government decides to impose an indirect tax on unhealthy drinks. Discuss the consequences for the stakeholders in these markets.

A government decides to impose an indirect tax on unhealthy drinks. Discuss the consequences for the stakeholders in these markets.

Explain two factors that might give rise to economies of scale for a firm.

Explain two factors that might give rise to economies of scale for a firm.

Explain two factors that might give rise to economies of scale for a firm.

Discuss the view that legislation is the best way of dealing with the problem of monopoly power.

Discuss the view that legislation is the best way of dealing with the problem of monopoly power.

Discuss the view that legislation is the best way of dealing with the problem of monopoly power.

Explain the possible impact of an increase in wealth and consumer confidence on aggregate demand.

Explain the possible impact of an increase in wealth and consumer confidence on aggregate demand.

Explain the possible impact of an increase in wealth and consumer confidence on aggregate demand.

Examine why, in contrast to the monetarist/new classical model, the economy will not automatically return to the full employment level of output in the Keynesian model.

Examine why, in contrast to the monetarist/new classical model, the economy will not automatically return to the full employment level of output in the Keynesian model.

Examine why, in contrast to the monetarist/new classical model, the economy will not automatically return to the full employment level of output in the Keynesian model.

Examine the significance of price elasticity of demand for the decision making of firms and government.

Examine the significance of price elasticity of demand for the decision making of firms and government.

Examine the significance of price elasticity of demand for the decision making of firms and government.

Explain how an increase in investment might lead to economic growth.

Explain how an increase in investment might lead to economic growth.

Explain how an increase in investment might lead to economic growth.

Explain how expansionary fiscal policy could be used to close a deflationary (recessionary) gap.

Explain how expansionary fiscal policy could be used to close a deflationary (recessionary) gap.

Explain how expansionary fiscal policy could be used to close a deflationary (recessionary) gap.

Explain two reasons why a government might want to subsidize a good or service.

Explain two reasons why a government might want to subsidize a good or service.

Explain two reasons why a government might want to subsidize a good or service.

Discuss the view that governments should tax the consumption of gasoline (petroleum).

Discuss the view that governments should tax the consumption of gasoline (petroleum).

Discuss the view that governments should tax the consumption of gasoline (petroleum).

Explain why some firms might choose the goal of profit maximization while others might choose to adopt satisficing behaviour.

Explain why some firms might choose the goal of profit maximization while others might choose to adopt satisficing behaviour.

Explain why some firms might choose the goal of profit maximization while others might choose to adopt satisficing behaviour.

Evaluate government policies to deal with the different types of unemployment.

Evaluate government policies to deal with the different types of unemployment.

Evaluate government policies to deal with the different types of unemployment.

Using Table 1, calculate the unemployment rate.

Using Table 1, calculate the unemployment rate.

Using Table 1, calculate the unemployment rate.

Using the graph, determine short-run values for the unemployment rate in 2016 and the inflation rate in 2018. Enter your answers in Table 2 below.

Table 2

Using the graph, determine short-run values for the unemployment rate in 2016 and the inflation rate in 2018. Enter your answers in Table 2 below.

Table 2

Using the graph, determine short-run values for the unemployment rate in 2016 and the inflation rate in 2018. Enter your answers in Table 2 below.

Table 2

The government in Country Alpha reduces income taxes in 2019.
Using information from the graph to support your answer, explain the likely effect on the inflation rate and the unemployment rate.

The government in Country Alpha reduces income taxes in 2019.
Using information from the graph to support your answer, explain the likely effect on the inflation rate and the unemployment rate.

The government in Country Alpha reduces income taxes in 2019.
Using information from the graph to support your answer, explain the likely effect on the inflation rate and the unemployment rate.

The natural rate of unemployment in Country Alpha is 5 %.

On the diagram draw and label the long-run Phillips curve (LRPC).

The natural rate of unemployment in Country Alpha is 5 %.

On the diagram draw and label the long-run Phillips curve (LRPC).

The natural rate of unemployment in Country Alpha is 5 %.

On the diagram draw and label the long-run Phillips curve (LRPC).

The price of oil is expected to rise significantly, causing a sustained increase in energy costs.

Describe the likely effect of this sustained cost increase on the short-run Phillips curve (SRPC).

The price of oil is expected to rise significantly, causing a sustained increase in energy costs.

Describe the likely effect of this sustained cost increase on the short-run Phillips curve (SRPC).

The price of oil is expected to rise significantly, causing a sustained increase in energy costs.

Describe the likely effect of this sustained cost increase on the short-run Phillips curve (SRPC).

Explain the reason for your answer to part (d) (i).

Explain the reason for your answer to part (d) (i).

Explain the reason for your answer to part (d) (i).

Using the data in Table 3, calculate the level of investment.

Using the data in Table 3, calculate the level of investment.

Using the data in Table 3, calculate the level of investment.

The following diagram illustrates the long-run aggregate supply curve (LRAS), short-run aggregate supply curve (SRAS) and aggregate demand curve (AD) for Country Beta before the increase in investment.

The increase in investment results in both short-run and long-run effects on the economy. On the diagram above, draw and label the two curves that illustrate these effects.

The following diagram illustrates the long-run aggregate supply curve (LRAS), short-run aggregate supply curve (SRAS) and aggregate demand curve (AD) for Country Beta before the increase in investment.

The increase in investment results in both short-run and long-run effects on the economy. On the diagram above, draw and label the two curves that illustrate these effects.

The following diagram illustrates the long-run aggregate supply curve (LRAS), short-run aggregate supply curve (SRAS) and aggregate demand curve (AD) for Country Beta before the increase in investment.

The increase in investment results in both short-run and long-run effects on the economy. On the diagram above, draw and label the two curves that illustrate these effects.

In Country Beta, investment by firms increases in the first quarter of 2019.

The following diagram illustrates the long-run aggregate supply curve (LRAS), short-run aggregate supply curve (SRAS) and aggregate demand curve (AD) for Country Beta before the increase in investment.

The increase in investment results in both short-run and long-run effects on the economy. On the diagram above, draw and label the two curves that illustrate these effects.

In Country Beta, investment by firms increases in the first quarter of 2019.

The following diagram illustrates the long-run aggregate supply curve (LRAS), short-run aggregate supply curve (SRAS) and aggregate demand curve (AD) for Country Beta before the increase in investment.

The increase in investment results in both short-run and long-run effects on the economy. On the diagram above, draw and label the two curves that illustrate these effects.

In Country Beta, investment by firms increases in the first quarter of 2019.

The following diagram illustrates the long-run aggregate supply curve (LRAS), short-run aggregate supply curve (SRAS) and aggregate demand curve (AD) for Country Beta before the increase in investment.

The increase in investment results in both short-run and long-run effects on the economy. On the diagram above, draw and label the two curves that illustrate these effects.

Calculate the real growth rate in 2018 using the figures in Table 4 below.

Table 4

Calculate the real growth rate in 2018 using the figures in Table 4 below.

Table 4

Calculate the real growth rate in 2018 using the figures in Table 4 below.

Table 4

Calculate the maximum possible increase in gross domestic product (GDP) that could result from the rise in investment.

Calculate the maximum possible increase in gross domestic product (GDP) that could result from the rise in investment.

Calculate the maximum possible increase in gross domestic product (GDP) that could result from the rise in investment.

Country Delta is an open economy with a government sector. Investment rises by $2 billion in both Delta and Beta. Explain how the size of the multiplier and the resulting effect on gross domestic product (GDP) might be different in the two countries.

Country Delta is an open economy with a government sector. Investment rises by $2 billion in both Delta and Beta. Explain how the size of the multiplier and the resulting effect on gross domestic product (GDP) might be different in the two countries.

Country Delta is an open economy with a government sector. Investment rises by $2 billion in both Delta and Beta. Explain how the size of the multiplier and the resulting effect on gross domestic product (GDP) might be different in the two countries.

Calculate the value of V (exports of services) for Urbania in 2017.

Calculate the value of V (exports of services) for Urbania in 2017.

Calculate the value of V (exports of services) for Urbania in 2017.

Using the information in Table 5, calculate the financial account balance.

Using the information in Table 5, calculate the financial account balance.

Using the information in Table 5, calculate the financial account balance.

Using your answer to part (g)(i), calculate the value of W (reserve assets) in Table 5.

Using your answer to part (g)(i), calculate the value of W (reserve assets) in Table 5.

Using your answer to part (g)(i), calculate the value of W (reserve assets) in Table 5.

Using your answer to part (g)(ii), describe how the level of reserve assets in Urbania changed by the end of 2017.

Using your answer to part (g)(ii), describe how the level of reserve assets in Urbania changed by the end of 2017.

Using your answer to part (g)(ii), describe how the level of reserve assets in Urbania changed by the end of 2017.

Explain how a depreciation of the Urbanian dollar ($) might result in a J-curve effect.

Explain how a depreciation of the Urbanian dollar ($) might result in a J-curve effect.

Explain how a depreciation of the Urbanian dollar ($) might result in a J-curve effect.

To what extent is advertising the most effective way of increasing the consumption of merit goods?

To what extent is advertising the most effective way of increasing the consumption of merit goods?

To what extent is advertising the most effective way of increasing the consumption of merit goods?

To what extent is the use of national income statistics an effective way of comparing the standard of living between countries?

To what extent is the use of national income statistics an effective way of comparing the standard of living between countries?

To what extent is the use of national income statistics an effective way of comparing the standard of living between countries?

Discuss whether an oligopolistic firm should collude rather than compete.

Discuss whether an oligopolistic firm should collude rather than compete.

Discuss whether an oligopolistic firm should collude rather than compete.

Using the concept of the multiplier, explain how an increase in investment might affect aggregate demand.

Using the concept of the multiplier, explain how an increase in investment might affect aggregate demand.

Using the concept of the multiplier, explain how an increase in investment might affect aggregate demand.

Explain the potential effects on the economic growth rate from a substantial increase in the number of skilled people of working age entering a country.

Explain the potential effects on the economic growth rate from a substantial increase in the number of skilled people of working age entering a country.

Explain the potential effects on the economic growth rate from a substantial increase in the number of skilled people of working age entering a country.

Discuss the view that, apart from indicating economic growth rates over time, national income statistics are of little use.

Discuss the view that, apart from indicating economic growth rates over time, national income statistics are of little use.

Discuss the view that, apart from indicating economic growth rates over time, national income statistics are of little use.

Define the term depreciation indicated in bold in the text (paragraph [6]).

Define the term depreciation indicated in bold in the text (paragraph [6]).

Define the term depreciation indicated in bold in the text (paragraph [6]).

Define the term current account indicated in bold in the text (paragraph [6]).

Define the term current account indicated in bold in the text (paragraph [6]).

Define the term current account indicated in bold in the text (paragraph [6]).

Using an exchange rate diagram, explain how “the need to import corn” will affect the value of the South African rand (paragraph [3]).

Using an exchange rate diagram, explain how “the need to import corn” will affect the value of the South African rand (paragraph [3]).

Using an exchange rate diagram, explain how “the need to import corn” will affect the value of the South African rand (paragraph [3]).

Using a demand and supply diagram, explain the effect of government subsidies on the US corn market (paragraph [5]).

Using a demand and supply diagram, explain the effect of government subsidies on the US corn market (paragraph [5]).

Using a demand and supply diagram, explain the effect of government subsidies on the US corn market (paragraph [5]).

Using information from the text/data and your knowledge of economics, evaluate the economic impacts of trade protection in the South African corn market.

Using information from the text/data and your knowledge of economics, evaluate the economic impacts of trade protection in the South African corn market.

Using information from the text/data and your knowledge of economics, evaluate the economic impacts of trade protection in the South African corn market.

List two components of the Human Development Index (HDI) (paragraph [2]).

List two components of the Human Development Index (HDI) (paragraph [2]).

List two components of the Human Development Index (HDI) (paragraph [2]).

Using a production possibilities curve (PPC) diagram, explain the effect on economic growth of the “destruction of much of the country’s physical, social and human capital” (paragraph [1]).

Using a production possibilities curve (PPC) diagram, explain the effect on economic growth of the “destruction of much of the country’s physical, social and human capital” (paragraph [1]).

Using a production possibilities curve (PPC) diagram, explain the effect on economic growth of the “destruction of much of the country’s physical, social and human capital” (paragraph [1]).

Using an AD/AS diagram, explain why the “decrease in the prices of imports, especially oil” might reduce inflationary pressure (paragraph [5]).

Using an AD/AS diagram, explain why the “decrease in the prices of imports, especially oil” might reduce inflationary pressure (paragraph [5]).

Using an AD/AS diagram, explain why the “decrease in the prices of imports, especially oil” might reduce inflationary pressure (paragraph [5]).

Using information from the text/data and your knowledge of economics, evaluate the challenges to economic growth and economic development faced by Burundi.

Using information from the text/data and your knowledge of economics, evaluate the challenges to economic growth and economic development faced by Burundi.

Using information from the text/data and your knowledge of economics, evaluate the challenges to economic growth and economic development faced by Burundi.

Define the term monetary union indicated in bold in the text (paragraph [1]).

Define the term monetary union indicated in bold in the text (paragraph [1]).

Define the term monetary union indicated in bold in the text (paragraph [1]).

Define the term comparative advantage indicated in bold in the text (paragraph [5]).

Define the term comparative advantage indicated in bold in the text (paragraph [5]).

Define the term comparative advantage indicated in bold in the text (paragraph [5]).

Using a cost diagram, explain how membership in the common market may allow producers in South Sudan to gain economies of scale (paragraph [6]).

Using a cost diagram, explain how membership in the common market may allow producers in South Sudan to gain economies of scale (paragraph [6]).

Using a cost diagram, explain how membership in the common market may allow producers in South Sudan to gain economies of scale (paragraph [6]).

Using information from the text/data and your knowledge of economics, evaluate the likely impact on South Sudan of its membership of the EAC common market. 

Using information from the text/data and your knowledge of economics, evaluate the likely impact on South Sudan of its membership of the EAC common market. 

Using information from the text/data and your knowledge of economics, evaluate the likely impact on South Sudan of its membership of the EAC common market. 

Define the term poverty trap indicated in bold in the text (paragraph [2]).

Define the term poverty trap indicated in bold in the text (paragraph [2]).

Define the term poverty trap indicated in bold in the text (paragraph [2]).

Define the term total revenue indicated in bold in the text (paragraph [6]).

Define the term total revenue indicated in bold in the text (paragraph [6]).

Define the term total revenue indicated in bold in the text (paragraph [6]).

Using an externalities diagram, explain how the widespread use of solar panels will decrease the negative externalities of consumption caused by the use of kerosene lamps (paragraph [5]).

Using an externalities diagram, explain how the widespread use of solar panels will decrease the negative externalities of consumption caused by the use of kerosene lamps (paragraph [5]).

Using an externalities diagram, explain how the widespread use of solar panels will decrease the negative externalities of consumption caused by the use of kerosene lamps (paragraph [5]).

Using a theory of the firm diagram, explain the output and pricing decision of M-Kopa if it chooses to pursue the goal of revenue maximization (paragraph [6]).

Using a theory of the firm diagram, explain the output and pricing decision of M-Kopa if it chooses to pursue the goal of revenue maximization (paragraph [6]).

Using a theory of the firm diagram, explain the output and pricing decision of M-Kopa if it chooses to pursue the goal of revenue maximization (paragraph [6]).

Define the term social (community) surplus.

Define the term social (community) surplus.

Define the term social (community) surplus.

Calculate the social (community) surplus in the market for cotton in San Marcus.

Calculate the social (community) surplus in the market for cotton in San Marcus.

Calculate the social (community) surplus in the market for cotton in San Marcus.

Draw and label the new supply curve following the granting of the subsidy to domestic cotton producers on Figure 3.

Draw and label the new supply curve following the granting of the subsidy to domestic cotton producers on Figure 3.

Draw and label the new supply curve following the granting of the subsidy to domestic cotton producers on Figure 3.

Calculate the cost to the government of San Marcus of providing this subsidy to domestic cotton producers.

Calculate the cost to the government of San Marcus of providing this subsidy to domestic cotton producers.

Calculate the cost to the government of San Marcus of providing this subsidy to domestic cotton producers.

Calculate the resulting change in producer surplus following the introduction of the subsidy to cotton producers in San Marcus.

Calculate the resulting change in producer surplus following the introduction of the subsidy to cotton producers in San Marcus.

Calculate the resulting change in producer surplus following the introduction of the subsidy to cotton producers in San Marcus.

Calculate the change in the consumer surplus resulting from the subsidy.

Calculate the change in the consumer surplus resulting from the subsidy.

Calculate the change in the consumer surplus resulting from the subsidy.

State two functions of the WTO.

State two functions of the WTO.

State two functions of the WTO.

Plot and label the world cotton supply curve that San Marcus now faces on Figure 3.

Plot and label the world cotton supply curve that San Marcus now faces on Figure 3.

Plot and label the world cotton supply curve that San Marcus now faces on Figure 3.

Calculate gross domestic product (GDP) for Country X in 2015.

Calculate gross domestic product (GDP) for Country X in 2015.

Calculate gross domestic product (GDP) for Country X in 2015.

Calculate gross national income (GNI) for Country X in 2015.

Calculate gross national income (GNI) for Country X in 2015.

Calculate gross national income (GNI) for Country X in 2015.

Calculate the rate of consumer price inflation in 2016.

Calculate the rate of consumer price inflation in 2016.

Calculate the rate of consumer price inflation in 2016.

Using the GDP deflator, calculate the percentage change in real GDP between 2014 and 2015.

Using the GDP deflator, calculate the percentage change in real GDP between 2014 and 2015.

Using the GDP deflator, calculate the percentage change in real GDP between 2014 and 2015.

Identify the term represented in Figure 4 by the letter V.

Identify the term represented in Figure 4 by the letter V.

Identify the term represented in Figure 4 by the letter V.

Identify the term represented in Figure 4 by the letter M.

Identify the term represented in Figure 4 by the letter M.

Identify the term represented in Figure 4 by the letter M.

State the four factor payments which constitute the income flow in the circular flow of income model.

State the four factor payments which constitute the income flow in the circular flow of income model.

State the four factor payments which constitute the income flow in the circular flow of income model.

Determine the size of the budget surplus/deficit and state which using Figure 4.

Determine the size of the budget surplus/deficit and state which using Figure 4.

Determine the size of the budget surplus/deficit and state which using Figure 4.

Calculate the average tax rate for an individual who earns $64 000 per year.

Calculate the average tax rate for an individual who earns $64 000 per year.

Calculate the average tax rate for an individual who earns $64 000 per year.

Draw and label the Lorenz curve diagram for Country A on Figure 5.

Draw and label the Lorenz curve diagram for Country A on Figure 5.

Draw and label the Lorenz curve diagram for Country A on Figure 5.

Examine the view that the best allocation of resources, from society’s point of view, occurs where the marginal private benefit equals the marginal private cost.

Examine the view that the best allocation of resources, from society’s point of view, occurs where the marginal private benefit equals the marginal private cost.

Examine the view that the best allocation of resources, from society’s point of view, occurs where the marginal private benefit equals the marginal private cost.

Explain why a government might decide to impose a price ceiling on goods and services such as essential foods or rented housing.

Explain why a government might decide to impose a price ceiling on goods and services such as essential foods or rented housing.

Explain why a government might decide to impose a price ceiling on goods and services such as essential foods or rented housing.

Explain how aggregate demand in an economy might be affected by a rise in the exchange rate and a decrease in the income of major trading partners.

Explain how aggregate demand in an economy might be affected by a rise in the exchange rate and a decrease in the income of major trading partners.

Explain how aggregate demand in an economy might be affected by a rise in the exchange rate and a decrease in the income of major trading partners.

To what extent is expansionary fiscal policy the best policy to achieve a reduction in the rate of unemployment?

To what extent is expansionary fiscal policy the best policy to achieve a reduction in the rate of unemployment?

To what extent is expansionary fiscal policy the best policy to achieve a reduction in the rate of unemployment?

Explain the role of improved productivity in achieving economic growth.

Explain the role of improved productivity in achieving economic growth.

Explain the role of improved productivity in achieving economic growth.

Explain why price elasticity of demand varies along the length of a straight-line demand curve.

Explain why price elasticity of demand varies along the length of a straight-line demand curve.

Explain why price elasticity of demand varies along the length of a straight-line demand curve.

Examine the significance of price elasticity of demand for the decision-making of firms and governments. 

Examine the significance of price elasticity of demand for the decision-making of firms and governments. 

Examine the significance of price elasticity of demand for the decision-making of firms and governments. 

Explain how a deflationary gap might occur.

Explain how a deflationary gap might occur.

Explain how a deflationary gap might occur.

Using the monetarist/new classical model and the Keynesian model, discuss the view that increases in aggregate demand will inevitably be inflationary.

Using the monetarist/new classical model and the Keynesian model, discuss the view that increases in aggregate demand will inevitably be inflationary.

Using the monetarist/new classical model and the Keynesian model, discuss the view that increases in aggregate demand will inevitably be inflationary.

Explain how government spending might promote greater equity in an economy.

Explain how government spending might promote greater equity in an economy.

Explain how government spending might promote greater equity in an economy.

Evaluate the view that government policies to promote greater equity will always have a negative effect on efficiency.

Evaluate the view that government policies to promote greater equity will always have a negative effect on efficiency.

Evaluate the view that government policies to promote greater equity will always have a negative effect on efficiency.

Discuss the view that the provision of subsidies by the government on goods such as agricultural products will always be beneficial to stakeholders.

Discuss the view that the provision of subsidies by the government on goods such as agricultural products will always be beneficial to stakeholders.

Discuss the view that the provision of subsidies by the government on goods such as agricultural products will always be beneficial to stakeholders.

Discuss the view that imposing an indirect tax on gasoline (petrol) is the most effective way of reducing the market failure caused by cars.

Discuss the view that imposing an indirect tax on gasoline (petrol) is the most effective way of reducing the market failure caused by cars.

Discuss the view that imposing an indirect tax on gasoline (petrol) is the most effective way of reducing the market failure caused by cars.

Explain how increased investment by the government in education and training can affect both aggregate demand and aggregate supply.

Explain how increased investment by the government in education and training can affect both aggregate demand and aggregate supply.

Explain how increased investment by the government in education and training can affect both aggregate demand and aggregate supply.

Evaluate the view that inflationary pressures in an economy are best reduced using supply-side policies.

Evaluate the view that inflationary pressures in an economy are best reduced using supply-side policies.

Evaluate the view that inflationary pressures in an economy are best reduced using supply-side policies.

Discuss the view that economies will always return to the full employment level of output in the long run.

Discuss the view that economies will always return to the full employment level of output in the long run.

Discuss the view that economies will always return to the full employment level of output in the long run.

Using an appropriate externalities diagram, explain why a government might decide to impose a price floor on a demerit good.

Using an appropriate externalities diagram, explain why a government might decide to impose a price floor on a demerit good.

Using an appropriate externalities diagram, explain why a government might decide to impose a price floor on a demerit good.

Examine the role of barriers to entry in making monopoly a less desirable market structure than perfect competition.

Examine the role of barriers to entry in making monopoly a less desirable market structure than perfect competition.

Examine the role of barriers to entry in making monopoly a less desirable market structure than perfect competition.

Explain how an increase in unemployment might lead to a loss of gross domestic product (GDP) and a budget deficit.

Explain how an increase in unemployment might lead to a loss of gross domestic product (GDP) and a budget deficit.

Explain how an increase in unemployment might lead to a loss of gross domestic product (GDP) and a budget deficit.

Discuss the view that there will always be a trade-off between the unemployment rate and the inflation rate.

Discuss the view that there will always be a trade-off between the unemployment rate and the inflation rate.

Discuss the view that there will always be a trade-off between the unemployment rate and the inflation rate.

Define the term excess demand indicated in bold in the text (paragraph [3]).

Define the term excess demand indicated in bold in the text (paragraph [3]).

Define the term excess demand indicated in bold in the text (paragraph [3]).

Define the term structural unemployment indicated in bold in the text (paragraph [4]).

Define the term structural unemployment indicated in bold in the text (paragraph [4]).

Define the term structural unemployment indicated in bold in the text (paragraph [4]).

Using a supply and demand diagram and data from the text, explain how a “disequilibrium in the domestic US tinplate steel market” would occur if there were no imports (paragraph [3]).

Using a supply and demand diagram and data from the text, explain how a “disequilibrium in the domestic US tinplate steel market” would occur if there were no imports (paragraph [3]).

Using a supply and demand diagram and data from the text, explain how a “disequilibrium in the domestic US tinplate steel market” would occur if there were no imports (paragraph [3]).

Using an international trade diagram, explain the effect of a tariff on the imports of tinplate steel (paragraph [1]).

Using an international trade diagram, explain the effect of a tariff on the imports of tinplate steel (paragraph [1]).

Using an international trade diagram, explain the effect of a tariff on the imports of tinplate steel (paragraph [1]).

Using information from the text/data and your knowledge of economics, discuss possible economic impacts of the tariff on tinplate steel.

Using information from the text/data and your knowledge of economics, discuss possible economic impacts of the tariff on tinplate steel.

Using information from the text/data and your knowledge of economics, discuss possible economic impacts of the tariff on tinplate steel.

Define the term concessional long-term loans indicated in bold in the text (paragraph [2]).

Define the term concessional long-term loans indicated in bold in the text (paragraph [2]).

Define the term concessional long-term loans indicated in bold in the text (paragraph [2]).

Define the term real gross domestic product (GDP) indicated in bold in the text (paragraph [2]).

Define the term real gross domestic product (GDP) indicated in bold in the text (paragraph [2]).

Define the term real gross domestic product (GDP) indicated in bold in the text (paragraph [2]).

Explain two possible disadvantages for Bhutan in receiving India’s tied aid (paragraph [3]).

Explain two possible disadvantages for Bhutan in receiving India’s tied aid (paragraph [3]).

Explain two possible disadvantages for Bhutan in receiving India’s tied aid (paragraph [3]).

Using a production possibilities curve (PPC) diagram, explain how rising numbers of university graduates will affect Bhutan’s potential output (paragraph [5]).

Using a production possibilities curve (PPC) diagram, explain how rising numbers of university graduates will affect Bhutan’s potential output (paragraph [5]).

Using a production possibilities curve (PPC) diagram, explain how rising numbers of university graduates will affect Bhutan’s potential output (paragraph [5]).

Using information from the text/data and your knowledge of economics, evaluate the government policies being used to promote economic development in Bhutan.

Using information from the text/data and your knowledge of economics, evaluate the government policies being used to promote economic development in Bhutan.

Using information from the text/data and your knowledge of economics, evaluate the government policies being used to promote economic development in Bhutan.

Define the term foreign direct investment (FDI) indicated in bold in the text (paragraph [4]).

Define the term foreign direct investment (FDI) indicated in bold in the text (paragraph [4]).

Define the term foreign direct investment (FDI) indicated in bold in the text (paragraph [4]).

Explain two reasons why Chinese companies may have been attracted into Peru (paragraph [4]).

Explain two reasons why Chinese companies may have been attracted into Peru (paragraph [4]).

Explain two reasons why Chinese companies may have been attracted into Peru (paragraph [4]).

Using a poverty cycle diagram, explain how increased foreign direct investment might break the cycle (paragraph [4]).

Using a poverty cycle diagram, explain how increased foreign direct investment might break the cycle (paragraph [4]).

Using a poverty cycle diagram, explain how increased foreign direct investment might break the cycle (paragraph [4]).

Using information from the text/data and your knowledge of economics, evaluate the factors that may allow Peru to continue to achieve high rates of economic growth in the future.

Using information from the text/data and your knowledge of economics, evaluate the factors that may allow Peru to continue to achieve high rates of economic growth in the future.

Using information from the text/data and your knowledge of economics, evaluate the factors that may allow Peru to continue to achieve high rates of economic growth in the future.

Define the term dumping indicated in bold in the text (paragraph [2]).

Define the term dumping indicated in bold in the text (paragraph [2]).

Define the term dumping indicated in bold in the text (paragraph [2]).

Using a tariff diagram, explain the effect of the “preliminary tariffs” on Canadian consumers of drywall (paragraph [3]).

Using a tariff diagram, explain the effect of the “preliminary tariffs” on Canadian consumers of drywall (paragraph [3]).

Using a tariff diagram, explain the effect of the “preliminary tariffs” on Canadian consumers of drywall (paragraph [3]).

Using a demand and supply diagram, explain how the “imposition of the preliminary tariff” may have affected the market for new homes built in Canada (paragraph [4]).

Using a demand and supply diagram, explain how the “imposition of the preliminary tariff” may have affected the market for new homes built in Canada (paragraph [4]).

Using a demand and supply diagram, explain how the “imposition of the preliminary tariff” may have affected the market for new homes built in Canada (paragraph [4]).

Using information from the text/data and your knowledge of economics, evaluate the effect of the tariff on drywall on different stakeholders.

Using information from the text/data and your knowledge of economics, evaluate the effect of the tariff on drywall on different stakeholders.

Using information from the text/data and your knowledge of economics, evaluate the effect of the tariff on drywall on different stakeholders.

List two functions of the central bank (paragraph [2]).

List two functions of the central bank (paragraph [2]).

List two functions of the central bank (paragraph [2]).

Define the term fiscal policy indicated in bold in the text (paragraph [5]).

Define the term fiscal policy indicated in bold in the text (paragraph [5]).

Define the term fiscal policy indicated in bold in the text (paragraph [5]).

Using an exchange rate diagram, explain how the central bank might depreciate the value of the rupee (paragraph [3]).

Using an exchange rate diagram, explain how the central bank might depreciate the value of the rupee (paragraph [3]).

Using an exchange rate diagram, explain how the central bank might depreciate the value of the rupee (paragraph [3]).

Explain the difference between a current account deficit and a budget deficit (paragraph [5]).

Explain the difference between a current account deficit and a budget deficit (paragraph [5]).

Explain the difference between a current account deficit and a budget deficit (paragraph [5]).

Using information from the text/data and your knowledge of economics, discuss the effects of the increasing current account deficit on Pakistan’s economy.

Using information from the text/data and your knowledge of economics, discuss the effects of the increasing current account deficit on Pakistan’s economy.

Using information from the text/data and your knowledge of economics, discuss the effects of the increasing current account deficit on Pakistan’s economy.

Define the term interest rates indicated in bold in the text (paragraph [5]).

Define the term interest rates indicated in bold in the text (paragraph [5]).

Define the term interest rates indicated in bold in the text (paragraph [5]).

Describe the nature of foreign direct investment (paragraph [6]).

Describe the nature of foreign direct investment (paragraph [6]).

Describe the nature of foreign direct investment (paragraph [6]).

Using information from the text, explain two reasons why Chinese multinational corporations (MNCs) are investing in Bolivia.

Using information from the text, explain two reasons why Chinese multinational corporations (MNCs) are investing in Bolivia.

Using information from the text, explain two reasons why Chinese multinational corporations (MNCs) are investing in Bolivia.

Using an externalities diagram, explain how the Chinese infrastructure projects have caused negative externalities (paragraph [6]).

Using an externalities diagram, explain how the Chinese infrastructure projects have caused negative externalities (paragraph [6]).

Using an externalities diagram, explain how the Chinese infrastructure projects have caused negative externalities (paragraph [6]).

Define the term investment indicated in bold in the text (paragraph [2]).

Define the term investment indicated in bold in the text (paragraph [2]).

Define the term investment indicated in bold in the text (paragraph [2]).

Define the term productivity indicated in bold in the text (paragraph [5]).

Define the term productivity indicated in bold in the text (paragraph [5]).

Define the term productivity indicated in bold in the text (paragraph [5]).

Using an AD/AS diagram, explain how expansionary monetary policy might lead to economic growth (paragraph [1]).

Using an AD/AS diagram, explain how expansionary monetary policy might lead to economic growth (paragraph [1]).

Using an AD/AS diagram, explain how expansionary monetary policy might lead to economic growth (paragraph [1]).

Explain the difference between economic growth and economic development (paragraph [7]).

Explain the difference between economic growth and economic development (paragraph [7]).

Explain the difference between economic growth and economic development (paragraph [7]).

Using information from the text/data and your knowledge of economics, discuss the extent to which continued economic growth may lead to economic development in Kenya.

Using information from the text/data and your knowledge of economics, discuss the extent to which continued economic growth may lead to economic development in Kenya.

Using information from the text/data and your knowledge of economics, discuss the extent to which continued economic growth may lead to economic development in Kenya.

Sketch and label a diagram to illustrate comparative advantage between Country X and Country Y on Figure 4.

Figure 4

Sketch and label a diagram to illustrate comparative advantage between Country X and Country Y on Figure 4.

Figure 4

Sketch and label a diagram to illustrate comparative advantage between Country X and Country Y on Figure 4.

Figure 4

Outline the reason why Country X should specialize in the production of apples and Country Y should specialize in the production of bananas.

Outline the reason why Country X should specialize in the production of apples and Country Y should specialize in the production of bananas.

Outline the reason why Country X should specialize in the production of apples and Country Y should specialize in the production of bananas.

Calculate the change in expenditure on imported oranges as a result of the increase in demand.

Calculate the change in expenditure on imported oranges as a result of the increase in demand.

Calculate the change in expenditure on imported oranges as a result of the increase in demand.

Calculate the change in consumer surplus in Country Z as a result of the increase in demand for oranges.

Calculate the change in consumer surplus in Country Z as a result of the increase in demand for oranges.

Calculate the change in consumer surplus in Country Z as a result of the increase in demand for oranges.

Calculate the change in social (community) surplus as a result of the increase in demand for oranges.

Calculate the change in social (community) surplus as a result of the increase in demand for oranges.

Calculate the change in social (community) surplus as a result of the increase in demand for oranges.

State one administrative barrier that Country Z could use in order to restrict imports.

State one administrative barrier that Country Z could use in order to restrict imports.

State one administrative barrier that Country Z could use in order to restrict imports.

Explain two possible economic consequences for the eurozone if the euro appreciates.

Explain two possible economic consequences for the eurozone if the euro appreciates.

Explain two possible economic consequences for the eurozone if the euro appreciates.

Calculate the quantity of EU€ she will receive for her US$300 000.

Calculate the quantity of EU€ she will receive for her US$300 000.

Calculate the quantity of EU€ she will receive for her US$300 000.

Calculate, in US$, the loss made by Tanya as a result of these transactions.

Calculate, in US$, the loss made by Tanya as a result of these transactions.

Calculate, in US$, the loss made by Tanya as a result of these transactions.

Explain two reasons why a government might prefer a floating exchange rate system for its currency.

Explain two reasons why a government might prefer a floating exchange rate system for its currency.

Explain two reasons why a government might prefer a floating exchange rate system for its currency.

Calculate the unemployment rate in Fairland using Table 1.

Calculate the unemployment rate in Fairland using Table 1.

Calculate the unemployment rate in Fairland using Table 1.

Outline two difficulties in measuring unemployment.

Outline two difficulties in measuring unemployment.

Outline two difficulties in measuring unemployment.

Draw and label a curve that illustrates Fairland’s minimum wage on Figure 6.

Draw and label a curve that illustrates Fairland’s minimum wage on Figure 6.

Draw and label a curve that illustrates Fairland’s minimum wage on Figure 6.

Calculate the resulting unemployment among the low-wage workers.

Calculate the resulting unemployment among the low-wage workers.

Calculate the resulting unemployment among the low-wage workers.

Fred is a low-wage worker in Fairland. As a result of the minimum wage his income will increase from $15 000 per year to $19 000 per year.

Calculate how much additional income tax Fred will need to pay.

Fred is a low-wage worker in Fairland. As a result of the minimum wage his income will increase from $15 000 per year to $19 000 per year.

Calculate how much additional income tax Fred will need to pay.

Fred is a low-wage worker in Fairland. As a result of the minimum wage his income will increase from $15 000 per year to $19 000 per year.

Calculate how much additional income tax Fred will need to pay.

State two interventionist supply-side policies that are likely to increase the demand for low-wage labour in Fairland.

State two interventionist supply-side policies that are likely to increase the demand for low-wage labour in Fairland.

State two interventionist supply-side policies that are likely to increase the demand for low-wage labour in Fairland.

State two market-based supply-side policies that are likely to increase the supply of labour in Fairland.

State two market-based supply-side policies that are likely to increase the supply of labour in Fairland.

State two market-based supply-side policies that are likely to increase the supply of labour in Fairland.

Using this information, calculate the value of the Keynesian multiplier.

Using this information, calculate the value of the Keynesian multiplier.

Using this information, calculate the value of the Keynesian multiplier.

Using your answer to part (i), calculate the increase in government spending necessary to increase nominal GDP by $100 billion.

Using your answer to part (i), calculate the increase in government spending necessary to increase nominal GDP by $100 billion.

Using your answer to part (i), calculate the increase in government spending necessary to increase nominal GDP by $100 billion.

Discuss the implications of the direct provision of public goods by a government.

Discuss the implications of the direct provision of public goods by a government.

Discuss the implications of the direct provision of public goods by a government.

Explain, using a production possibilities curve (PPC) diagram, an increase in the actual output of an economy.

Explain, using a production possibilities curve (PPC) diagram, an increase in the actual output of an economy.

Explain, using a production possibilities curve (PPC) diagram, an increase in the actual output of an economy.

Discuss the view that economic growth always leads to a rise in living standards.

Discuss the view that economic growth always leads to a rise in living standards.

Discuss the view that economic growth always leads to a rise in living standards.

Discuss the significance of price elasticity of demand (PED) for a government imposing an indirect tax on a good.

Discuss the significance of price elasticity of demand (PED) for a government imposing an indirect tax on a good.

Discuss the significance of price elasticity of demand (PED) for a government imposing an indirect tax on a good.

Discuss the view that barriers to entry in a monopoly will always lead to abnormal profits in the long run.

Discuss the view that barriers to entry in a monopoly will always lead to abnormal profits in the long run.

Discuss the view that barriers to entry in a monopoly will always lead to abnormal profits in the long run.

Explain the impact that a cut in taxation and an increase in government spending might have on the circular flow of income.

Explain the impact that a cut in taxation and an increase in government spending might have on the circular flow of income.

Explain the impact that a cut in taxation and an increase in government spending might have on the circular flow of income.

Discuss whether the real gross national income (GNI) per capita of a country is a good indicator of its standard of living.

Discuss whether the real gross national income (GNI) per capita of a country is a good indicator of its standard of living.

Discuss whether the real gross national income (GNI) per capita of a country is a good indicator of its standard of living.

Explain the effect an increase in investment might have on real gross domestic product (GDP) using the Keynesian multiplier.

Explain the effect an increase in investment might have on real gross domestic product (GDP) using the Keynesian multiplier.

Explain the effect an increase in investment might have on real gross domestic product (GDP) using the Keynesian multiplier.

Discuss the view that interventionist supply-side policies are the most effective way for a government to achieve economic growth.

Discuss the view that interventionist supply-side policies are the most effective way for a government to achieve economic growth.

Discuss the view that interventionist supply-side policies are the most effective way for a government to achieve economic growth.

Define the term quota indicated in bold in the text (paragraph [4]).

Define the term quota indicated in bold in the text (paragraph [4]).

Define the term quota indicated in bold in the text (paragraph [4]).

Define the term sustainability indicated in bold in the text (paragraph [6]).

Define the term sustainability indicated in bold in the text (paragraph [6]).

Define the term sustainability indicated in bold in the text (paragraph [6]).

Using an AD/AS diagram, explain the impact of the trade agreement between Japan and the EU (JEEPA) on Japan’s economic growth (paragraph [1]).

Using an AD/AS diagram, explain the impact of the trade agreement between Japan and the EU (JEEPA) on Japan’s economic growth (paragraph [1]).

Using an AD/AS diagram, explain the impact of the trade agreement between Japan and the EU (JEEPA) on Japan’s economic growth (paragraph [1]).

Using an international trade diagram, explain the likely impact of Japan “removing the current 30 % tariff” on the level of cheddar cheese imports. (paragraph [4]).

Using an international trade diagram, explain the likely impact of Japan “removing the current 30 % tariff” on the level of cheddar cheese imports. (paragraph [4]).

Using an international trade diagram, explain the likely impact of Japan “removing the current 30 % tariff” on the level of cheddar cheese imports. (paragraph [4]).

Using information from the text/data and your knowledge of economics, evaluate the possible consequences of the trade agreement between Japan and the EU (JEEPA).

Using information from the text/data and your knowledge of economics, evaluate the possible consequences of the trade agreement between Japan and the EU (JEEPA).

Using information from the text/data and your knowledge of economics, evaluate the possible consequences of the trade agreement between Japan and the EU (JEEPA).

Outline two roles of a country’s central bank (paragraph [1]).

Outline two roles of a country’s central bank (paragraph [1]).

Outline two roles of a country’s central bank (paragraph [1]).

Define the term current account deficit indicated in bold in the text (paragraph [4]).

Define the term current account deficit indicated in bold in the text (paragraph [4]).

Define the term current account deficit indicated in bold in the text (paragraph [4]).

Using an exchange rate diagram, explain one reason for the appreciation of the Canadian dollar (paragraph [3]).

Using an exchange rate diagram, explain one reason for the appreciation of the Canadian dollar (paragraph [3]).

Using an exchange rate diagram, explain one reason for the appreciation of the Canadian dollar (paragraph [3]).

Using information from the text/data and your knowledge of economics, discuss the possible effects on the Canadian economy of the strengthening of the Canadian dollar against the US dollar.

Using information from the text/data and your knowledge of economics, discuss the possible effects on the Canadian economy of the strengthening of the Canadian dollar against the US dollar.

Using information from the text/data and your knowledge of economics, discuss the possible effects on the Canadian economy of the strengthening of the Canadian dollar against the US dollar.

State two functions of the International Monetary Fund (IMF) (paragraph [1]).

State two functions of the International Monetary Fund (IMF) (paragraph [1]).

State two functions of the International Monetary Fund (IMF) (paragraph [1]).

Define the term depreciation indicated in bold in the text (paragraph [3]).

Define the term depreciation indicated in bold in the text (paragraph [3]).

Define the term depreciation indicated in bold in the text (paragraph [3]).

Using an AD/AS diagram, explain how Turkey’s reliance on energy imports is putting “further pressure on inflation” (paragraph [4]).

Using an AD/AS diagram, explain how Turkey’s reliance on energy imports is putting “further pressure on inflation” (paragraph [4]).

Using an AD/AS diagram, explain how Turkey’s reliance on energy imports is putting “further pressure on inflation” (paragraph [4]).

Using an exchange rate diagram, explain what is likely to have happened to the Turkish lira when Turkish citizens “bought US$1 billion worth of foreign currency” (paragraph [5]).

Using an exchange rate diagram, explain what is likely to have happened to the Turkish lira when Turkish citizens “bought US$1 billion worth of foreign currency” (paragraph [5]).

Using an exchange rate diagram, explain what is likely to have happened to the Turkish lira when Turkish citizens “bought US$1 billion worth of foreign currency” (paragraph [5]).

Using information from the text/data and your knowledge of economics, discuss the implications of Turkey’s persistent current account deficit.

Using information from the text/data and your knowledge of economics, discuss the implications of Turkey’s persistent current account deficit.

Using information from the text/data and your knowledge of economics, discuss the implications of Turkey’s persistent current account deficit.

State the reason for the difference between Ghana’s GNI per capita and its GDP per capita (Table 1).

State the reason for the difference between Ghana’s GNI per capita and its GDP per capita (Table 1).

State the reason for the difference between Ghana’s GNI per capita and its GDP per capita (Table 1).

Using an externalities diagram, explain why the percentage of infants receiving measles vaccinations in Nigeria indicates the existence of a market failure (Table 1).

Using an externalities diagram, explain why the percentage of infants receiving measles vaccinations in Nigeria indicates the existence of a market failure (Table 1).

Using an externalities diagram, explain why the percentage of infants receiving measles vaccinations in Nigeria indicates the existence of a market failure (Table 1).

Using information from the text/data and your knowledge of economics, compare and contrast the level of economic development in Ghana and Nigeria.

Using information from the text/data and your knowledge of economics, compare and contrast the level of economic development in Ghana and Nigeria.

Using information from the text/data and your knowledge of economics, compare and contrast the level of economic development in Ghana and Nigeria.

Define the term economic growth indicated in bold in the text (paragraph [2]).

Define the term economic growth indicated in bold in the text (paragraph [2]).

Define the term economic growth indicated in bold in the text (paragraph [2]).

Define the term diversification indicated in bold in the text (paragraph [5]).

Define the term diversification indicated in bold in the text (paragraph [5]).

Define the term diversification indicated in bold in the text (paragraph [5]).

Using a demand and supply diagram, explain why the increase in the minimum wage might affect Cambodia’s garment manufacturing competitiveness against other countries in the region (paragraph [4]).

Using a demand and supply diagram, explain why the increase in the minimum wage might affect Cambodia’s garment manufacturing competitiveness against other countries in the region (paragraph [4]).

Using a demand and supply diagram, explain why the increase in the minimum wage might affect Cambodia’s garment manufacturing competitiveness against other countries in the region (paragraph [4]).

Using an externalities diagram, explain why the garment industry is a source of market failure (paragraph [8]).

Using an externalities diagram, explain why the garment industry is a source of market failure (paragraph [8]).

Using an externalities diagram, explain why the garment industry is a source of market failure (paragraph [8]).

Using information from the text/data and your knowledge of economics, evaluate export promotion as a strategy for achieving economic development in Cambodia.

Using information from the text/data and your knowledge of economics, evaluate export promotion as a strategy for achieving economic development in Cambodia.

Using information from the text/data and your knowledge of economics, evaluate export promotion as a strategy for achieving economic development in Cambodia.

Calculate the inflation rate for 2014 and for 2015. Enter your results in Table 1.

Calculate the inflation rate for 2014 and for 2015. Enter your results in Table 1.

Calculate the inflation rate for 2014 and for 2015. Enter your results in Table 1.

Calculate the unemployment rate for 2012 and for 2013. Enter your results in Table 1.

Calculate the unemployment rate for 2012 and for 2013. Enter your results in Table 1.

Calculate the unemployment rate for 2012 and for 2013. Enter your results in Table 1.

Explain two reasons why low and stable inflation is desirable.

Explain two reasons why low and stable inflation is desirable.

Explain two reasons why low and stable inflation is desirable.

Using the data in Table 1 to support your answer, identify two reasons why many economists would consider Country A’s economy to be performing poorly in 2012.

Using the data in Table 1 to support your answer, identify two reasons why many economists would consider Country A’s economy to be performing poorly in 2012.

Using the data in Table 1 to support your answer, identify two reasons why many economists would consider Country A’s economy to be performing poorly in 2012.

State one reason why monetary policy is considered to have limited effectiveness in increasing aggregate demand if an economy is in a deep recession.

State one reason why monetary policy is considered to have limited effectiveness in increasing aggregate demand if an economy is in a deep recession.

State one reason why monetary policy is considered to have limited effectiveness in increasing aggregate demand if an economy is in a deep recession.

Explain two reasons why fiscal policy may prove effective in lifting an economy out of a deep recession.

Explain two reasons why fiscal policy may prove effective in lifting an economy out of a deep recession.

Explain two reasons why fiscal policy may prove effective in lifting an economy out of a deep recession.

Using the information in Table 2 for Country B calculate nominal GDP in 2014. Enter your result in Table 2.

Using the information in Table 2 for Country B calculate nominal GDP in 2014. Enter your result in Table 2.

Using the information in Table 2 for Country B calculate nominal GDP in 2014. Enter your result in Table 2.

Using the information in Table 2 for Country B calculate nominal GNI in 2015. Enter your result in Table 2.

Using the information in Table 2 for Country B calculate nominal GNI in 2015. Enter your result in Table 2.

Using the information in Table 2 for Country B calculate nominal GNI in 2015. Enter your result in Table 2.

Using the information in Table 2 for Country B, determine real GDP in 2014 and in 2015. Enter your results in Table 2.

Using the information in Table 2 for Country B, determine real GDP in 2014 and in 2015. Enter your results in Table 2.

Using the information in Table 2 for Country B, determine real GDP in 2014 and in 2015. Enter your results in Table 2.

The data in Table 2 suggest that Country B may have attracted significant foreign direct investment (FDI).

Outline one possible disadvantage of foreign direct investment (FDI) for economically less developed countries.

The data in Table 2 suggest that Country B may have attracted significant foreign direct investment (FDI).

Outline one possible disadvantage of foreign direct investment (FDI) for economically less developed countries.

The data in Table 2 suggest that Country B may have attracted significant foreign direct investment (FDI).

Outline one possible disadvantage of foreign direct investment (FDI) for economically less developed countries.

If a visitor to Gardia from the US buys a towel that costs 23 gamma, calculate the cost in US$.

If a visitor to Gardia from the US buys a towel that costs 23 gamma, calculate the cost in US$.

If a visitor to Gardia from the US buys a towel that costs 23 gamma, calculate the cost in US$.

State two factors that could cause Gardia’s current account to be in deficit, even though its balance of trade in goods is in surplus.

State two factors that could cause Gardia’s current account to be in deficit, even though its balance of trade in goods is in surplus.

State two factors that could cause Gardia’s current account to be in deficit, even though its balance of trade in goods is in surplus.

Determine the size of Gardia’s current account surplus/deficit when the sum of the financial and capital accounts is US$ 2 billion.

Determine the size of Gardia’s current account surplus/deficit when the sum of the financial and capital accounts is US$ 2 billion.

Determine the size of Gardia’s current account surplus/deficit when the sum of the financial and capital accounts is US$ 2 billion.

Gardia is aiming to increase its economic growth rate. Explain two sources of economic growth for economically less developed countries.

Gardia is aiming to increase its economic growth rate. Explain two sources of economic growth for economically less developed countries.

Gardia is aiming to increase its economic growth rate. Explain two sources of economic growth for economically less developed countries.

Calculate the additional cost of paying back the loan in gamma in 2019, due to the interest and the change in the exchange rate.

Calculate the additional cost of paying back the loan in gamma in 2019, due to the interest and the change in the exchange rate.

Calculate the additional cost of paying back the loan in gamma in 2019, due to the interest and the change in the exchange rate.

Calculate the equilibrium exchange rate for the US$ in terms of the gamma.

Calculate the equilibrium exchange rate for the US$ in terms of the gamma.

Calculate the equilibrium exchange rate for the US$ in terms of the gamma.

Plot and label the new supply curve on Figure 2.

Plot and label the new supply curve on Figure 2.

Plot and label the new supply curve on Figure 2.

Using Figure 2, calculate how many US$ are needed to buy one gamma at the new exchange rate.

Using Figure 2, calculate how many US$ are needed to buy one gamma at the new exchange rate.

Using Figure 2, calculate how many US$ are needed to buy one gamma at the new exchange rate.

Using information from Figure 1, calculate Firm A’s total fixed costs.

Using information from Figure 1, calculate Firm A’s total fixed costs.

Using information from Figure 1, calculate Firm A’s total fixed costs.

The market price of almonds is $11 per kilogram. Using Figure 1, identify the quantity of almonds Firm A must produce in order to maximize profits.

The market price of almonds is $11 per kilogram. Using Figure 1, identify the quantity of almonds Firm A must produce in order to maximize profits.

The market price of almonds is $11 per kilogram. Using Figure 1, identify the quantity of almonds Firm A must produce in order to maximize profits.

Calculate the economic profit/loss when Firm A is producing at the output level identified in part (b)(i).

Calculate the economic profit/loss when Firm A is producing at the output level identified in part (b)(i).

Calculate the economic profit/loss when Firm A is producing at the output level identified in part (b)(i).

On Figure 2, draw and label appropriate additional curves to show how a perfectly competitive market will move from short-run equilibrium to long-run equilibrium.

On Figure 2, draw and label appropriate additional curves to show how a perfectly competitive market will move from short-run equilibrium to long-run equilibrium.

On Figure 2, draw and label appropriate additional curves to show how a perfectly competitive market will move from short-run equilibrium to long-run equilibrium.

Using your answer to part (c)(ii), explain how the market adjustment takes place.

Using your answer to part (c)(ii), explain how the market adjustment takes place.

Using your answer to part (c)(ii), explain how the market adjustment takes place.

State two assumed characteristics of a monopoly.

State two assumed characteristics of a monopoly.

State two assumed characteristics of a monopoly.

Explain two reasons why a monopoly may be considered desirable for an economy.

Explain two reasons why a monopoly may be considered desirable for an economy.

Explain two reasons why a monopoly may be considered desirable for an economy.

Using Figure 3, calculate the economic profit when Firm B is maximizing its profits.

Using Figure 3, calculate the economic profit when Firm B is maximizing its profits.

Using Figure 3, calculate the economic profit when Firm B is maximizing its profits.

Using Figure 3, calculate the total revenue when Firm B is maximizing its revenue.

Using Figure 3, calculate the total revenue when Firm B is maximizing its revenue.

Using Figure 3, calculate the total revenue when Firm B is maximizing its revenue.

Sketch and label a diagram to illustrate the long-run equilibrium for a firm in monopolistic competition.

Sketch and label a diagram to illustrate the long-run equilibrium for a firm in monopolistic competition.

Sketch and label a diagram to illustrate the long-run equilibrium for a firm in monopolistic competition.

Calculate the cost of the typical basket in 2016.

Calculate the cost of the typical basket in 2016.

Calculate the cost of the typical basket in 2016.

The cost of the typical basket was $50 in 2017. Calculate the consumer price index (CPI) for 2017.

The cost of the typical basket was $50 in 2017. Calculate the consumer price index (CPI) for 2017.

The cost of the typical basket was $50 in 2017. Calculate the consumer price index (CPI) for 2017.

The consumer price index for 2014 was 101.23. Calculate the rate of inflation between 2014 and 2015 (the base year).

The consumer price index for 2014 was 101.23. Calculate the rate of inflation between 2014 and 2015 (the base year).

The consumer price index for 2014 was 101.23. Calculate the rate of inflation between 2014 and 2015 (the base year).

In 2019, nominal GDP was $102 874.55 million. Using data from Table 2, identify whether Country A experienced inflation or deflation or disinflation in 2019.

In 2019, nominal GDP was $102 874.55 million. Using data from Table 2, identify whether Country A experienced inflation or deflation or disinflation in 2019.

In 2019, nominal GDP was $102 874.55 million. Using data from Table 2, identify whether Country A experienced inflation or deflation or disinflation in 2019.

Using data from Table 2, state the reason why there is a difference between the real GDP growth rate and the real GDP per capita growth rate between 2015 and 2019.

Using data from Table 2, state the reason why there is a difference between the real GDP growth rate and the real GDP per capita growth rate between 2015 and 2019.

Using data from Table 2, state the reason why there is a difference between the real GDP growth rate and the real GDP per capita growth rate between 2015 and 2019.

An economist forecasts that the real GDP growth rate in 2020 will be 3.41 %. Using the data in Table 2, calculate the forecast for real GDP ($ million) in 2020.

An economist forecasts that the real GDP growth rate in 2020 will be 3.41 %. Using the data in Table 2, calculate the forecast for real GDP ($ million) in 2020.

An economist forecasts that the real GDP growth rate in 2020 will be 3.41 %. Using the data in Table 2, calculate the forecast for real GDP ($ million) in 2020.

Calculate the estimated value of the multiplier used by the economist.

Calculate the estimated value of the multiplier used by the economist.

Calculate the estimated value of the multiplier used by the economist.

Calculate the estimated value of the multiplier used by the economist.

Calculate the estimated value of the multiplier used by the economist.

Calculate the estimated value of the multiplier used by the economist.

Plot and label the production possibility curves for Country J and for Country H, assuming constant opportunity costs, on Figure 4.

Plot and label the production possibility curves for Country J and for Country H, assuming constant opportunity costs, on Figure 4.

Plot and label the production possibility curves for Country J and for Country H, assuming constant opportunity costs, on Figure 4.

Calculate the value of the Mexican peso (US$ per MX$) in 2015. Enter your result in Table 3.

Calculate the value of the Mexican peso (US$ per MX$) in 2015. Enter your result in Table 3.

Calculate the value of the Mexican peso (US$ per MX$) in 2015. Enter your result in Table 3.

Using Table 3, state one possible effect on Mexican consumers and one possible effect on Mexican producers from the change in the value of the Mexican peso (US$ per MX$) between 2014 and 2016.

Using Table 3, state one possible effect on Mexican consumers and one possible effect on Mexican producers from the change in the value of the Mexican peso (US$ per MX$) between 2014 and 2016.

Using Table 3, state one possible effect on Mexican consumers and one possible effect on Mexican producers from the change in the value of the Mexican peso (US$ per MX$) between 2014 and 2016.

Using Figure 5, state two likely causes for the change in Mexico’s spending on imports of goods and services in 2009.

Using Figure 5, state two likely causes for the change in Mexico’s spending on imports of goods and services in 2009.

Using Figure 5, state two likely causes for the change in Mexico’s spending on imports of goods and services in 2009.

Using information from Figure 5, sketch an exchange rate diagram to show how the change in Mexico’s spending on imports in 2010 would have affected its exchange rate (US$ per MX$), ceteris paribus.

Using information from Figure 5, sketch an exchange rate diagram to show how the change in Mexico’s spending on imports in 2010 would have affected its exchange rate (US$ per MX$), ceteris paribus.

Using information from Figure 5, sketch an exchange rate diagram to show how the change in Mexico’s spending on imports in 2010 would have affected its exchange rate (US$ per MX$), ceteris paribus.

Using Figure 6, identify the equilibrium price when Country B engages in free trade.

Using Figure 6, identify the equilibrium price when Country B engages in free trade.

Using Figure 6, identify the equilibrium price when Country B engages in free trade.

Using Figure 6, calculate the consumer surplus and the producer surplus when Country B engages in free trade.

Using Figure 6, calculate the consumer surplus and the producer surplus when Country B engages in free trade.

Using Figure 6, calculate the consumer surplus and the producer surplus when Country B engages in free trade.

Using Figure 7, identify the equilibrium quantity being consumed following the imposition of the tariff.

Using Figure 7, identify the equilibrium quantity being consumed following the imposition of the tariff.

Using Figure 7, identify the equilibrium quantity being consumed following the imposition of the tariff.

Using Figure 7, calculate the revenue received by the government as a result of the imposition of the tariff in Country B.

Using Figure 7, calculate the revenue received by the government as a result of the imposition of the tariff in Country B.

Using Figure 7, calculate the revenue received by the government as a result of the imposition of the tariff in Country B.

Using Figure 7, calculate the change in consumer surplus as a result of Country B imposing the tariff.

Using Figure 7, calculate the change in consumer surplus as a result of Country B imposing the tariff.

Using Figure 7, calculate the change in consumer surplus as a result of Country B imposing the tariff.

Discuss whether government regulation is the most effective way to deal with negative externalities of consumption.

Discuss whether government regulation is the most effective way to deal with negative externalities of consumption.

Discuss whether government regulation is the most effective way to deal with negative externalities of consumption.

Explain the impact of a price floor on market outcomes.

Explain the impact of a price floor on market outcomes.

Explain the impact of a price floor on market outcomes.

Discuss the consequences for different stakeholders when the government imposes a price ceiling on a market.

Discuss the consequences for different stakeholders when the government imposes a price ceiling on a market.

Discuss the consequences for different stakeholders when the government imposes a price ceiling on a market.

Explain how knowledge of price elasticity of demand could be used by a firm that is considering changing the price of its product.

Explain how knowledge of price elasticity of demand could be used by a firm that is considering changing the price of its product.

Explain how knowledge of price elasticity of demand could be used by a firm that is considering changing the price of its product.

Discuss how the introduction of a subsidy in a market will affect consumers, producers and the government.

Discuss how the introduction of a subsidy in a market will affect consumers, producers and the government.

Discuss how the introduction of a subsidy in a market will affect consumers, producers and the government.

Explain how a natural monopoly may arise.

Explain how a natural monopoly may arise.

Explain how a natural monopoly may arise.

Discuss how governments restrict monopoly power.

Discuss how governments restrict monopoly power.

Discuss how governments restrict monopoly power.

Explain why there is a possible trade-off between the unemployment rate and the inflation rate in the short run.

Explain why there is a possible trade-off between the unemployment rate and the inflation rate in the short run.

Explain why there is a possible trade-off between the unemployment rate and the inflation rate in the short run.

Discuss the view that the redistribution of income is the most important impact that inflation has on an economy.

Discuss the view that the redistribution of income is the most important impact that inflation has on an economy.

Discuss the view that the redistribution of income is the most important impact that inflation has on an economy.

Explain why measuring unemployment in a country is difficult. 

Explain why measuring unemployment in a country is difficult. 

Explain why measuring unemployment in a country is difficult. 

Discuss whether the most important consequence of unemployment is a loss of income for individuals.

Discuss whether the most important consequence of unemployment is a loss of income for individuals.

Discuss whether the most important consequence of unemployment is a loss of income for individuals.

Define the term budget deficit indicated in bold in the text (paragraph [2]).

Define the term budget deficit indicated in bold in the text (paragraph [2]).

Define the term budget deficit indicated in bold in the text (paragraph [2]).

Define the term gross domestic product (GDP) indicated in bold in the text (paragraph [3]). 

Define the term gross domestic product (GDP) indicated in bold in the text (paragraph [3]). 

Define the term gross domestic product (GDP) indicated in bold in the text (paragraph [3]). 

Using an exchange rate diagram, explain how raising interest rates would “stop the fall in the peso’s value” (paragraph [4]).

Using an exchange rate diagram, explain how raising interest rates would “stop the fall in the peso’s value” (paragraph [4]).

Using an exchange rate diagram, explain how raising interest rates would “stop the fall in the peso’s value” (paragraph [4]).

Using an AD/AS diagram, explain how the peso’s weakness is “raising inflation” (paragraph [6]).

Using an AD/AS diagram, explain how the peso’s weakness is “raising inflation” (paragraph [6]).

Using an AD/AS diagram, explain how the peso’s weakness is “raising inflation” (paragraph [6]).

Define the term tariff indicated in bold in the text (paragraph [2]).

Define the term tariff indicated in bold in the text (paragraph [2]).

Define the term tariff indicated in bold in the text (paragraph [2]).

Using an international trade diagram, explain the outcome on US producers of the introduction of a tariff on imports from China (paragraph [2]).

Using an international trade diagram, explain the outcome on US producers of the introduction of a tariff on imports from China (paragraph [2]).

Using an international trade diagram, explain the outcome on US producers of the introduction of a tariff on imports from China (paragraph [2]).

Using an AD/AS diagram, explain the desired impact of China’s “eased monetary policy” on its economic growth (paragraph [5]).

Using an AD/AS diagram, explain the desired impact of China’s “eased monetary policy” on its economic growth (paragraph [5]).

Using an AD/AS diagram, explain the desired impact of China’s “eased monetary policy” on its economic growth (paragraph [5]).

Using information from the text/data and your knowledge of economics, discuss the arguments for and against the trade protection measures imposed by the US on China.

Using information from the text/data and your knowledge of economics, discuss the arguments for and against the trade protection measures imposed by the US on China.

Using information from the text/data and your knowledge of economics, discuss the arguments for and against the trade protection measures imposed by the US on China.

State two functions of the International Monetary Fund (IMF) (paragraph [2]).

State two functions of the International Monetary Fund (IMF) (paragraph [2]).

State two functions of the International Monetary Fund (IMF) (paragraph [2]).

Define the term human capital indicated in bold in the text (paragraph [5]).

Define the term human capital indicated in bold in the text (paragraph [5]).

Define the term human capital indicated in bold in the text (paragraph [5]).

Using a poverty cycle diagram, explain how the government of Pakistan could intervene to “break out of the poverty cycle” (paragraph [3]).

Using a poverty cycle diagram, explain how the government of Pakistan could intervene to “break out of the poverty cycle” (paragraph [3]).

Using a poverty cycle diagram, explain how the government of Pakistan could intervene to “break out of the poverty cycle” (paragraph [3]).

Using an externalities diagram, explain how “greater access to education” for girls in Pakistan could reduce market failure (paragraph [5]).

Using an externalities diagram, explain how “greater access to education” for girls in Pakistan could reduce market failure (paragraph [5]).

Using an externalities diagram, explain how “greater access to education” for girls in Pakistan could reduce market failure (paragraph [5]).

Using information from the text/data and your knowledge of economics, evaluate the potential impact of the IMF and the World Bank on economic development in Pakistan.

Using information from the text/data and your knowledge of economics, evaluate the potential impact of the IMF and the World Bank on economic development in Pakistan.

Using information from the text/data and your knowledge of economics, evaluate the potential impact of the IMF and the World Bank on economic development in Pakistan.

State two functions of the World Trade Organization (WTO) (paragraph [1]).

State two functions of the World Trade Organization (WTO) (paragraph [1]).

State two functions of the World Trade Organization (WTO) (paragraph [1]).

Define the term inflation indicated in bold in the text (paragraph [2]).

Define the term inflation indicated in bold in the text (paragraph [2]).

Define the term inflation indicated in bold in the text (paragraph [2]).

Using a Lorenz curve diagram, explain the possible impact on the distribution of income in the Philippines when “the income tax for the highest income earners has been raised from 30 % to 35 %” (paragraph [4]).

Using a Lorenz curve diagram, explain the possible impact on the distribution of income in the Philippines when “the income tax for the highest income earners has been raised from 30 % to 35 %” (paragraph [4]).

Using a Lorenz curve diagram, explain the possible impact on the distribution of income in the Philippines when “the income tax for the highest income earners has been raised from 30 % to 35 %” (paragraph [4]).

Define the term interest rate indicated in bold in the text (paragraph [2]).

Define the term interest rate indicated in bold in the text (paragraph [2]).

Define the term interest rate indicated in bold in the text (paragraph [2]).

List two components of the financial account (paragraph [4]).

List two components of the financial account (paragraph [4]).

List two components of the financial account (paragraph [4]).

Using an exchange rate diagram, explain how South Korea’s current account surplus could have “helped increase the South Korean won’s value” (paragraph [2]).

Using an exchange rate diagram, explain how South Korea’s current account surplus could have “helped increase the South Korean won’s value” (paragraph [2]).

Using an exchange rate diagram, explain how South Korea’s current account surplus could have “helped increase the South Korean won’s value” (paragraph [2]).

Using an AD/AS diagram, explain how the use of fiscal policy could lower “the high rates of youth unemployment” in South Korea (paragraph [5]).

Using an AD/AS diagram, explain how the use of fiscal policy could lower “the high rates of youth unemployment” in South Korea (paragraph [5]).

Using an AD/AS diagram, explain how the use of fiscal policy could lower “the high rates of youth unemployment” in South Korea (paragraph [5]).

Using information from the text/data and your knowledge of economics, discuss the possible implications on South Korea’s economy of a current account surplus.

Using information from the text/data and your knowledge of economics, discuss the possible implications on South Korea’s economy of a current account surplus.

Using information from the text/data and your knowledge of economics, discuss the possible implications on South Korea’s economy of a current account surplus.

Define the term free trade area indicated in bold in the text (paragraph [1]).

Define the term free trade area indicated in bold in the text (paragraph [1]).

Define the term free trade area indicated in bold in the text (paragraph [1]).

Define the term quotas indicated in bold in the text (paragraph [2]).

Define the term quotas indicated in bold in the text (paragraph [2]).

Define the term quotas indicated in bold in the text (paragraph [2]).

Using price elasticity of demand (PED) data from the text and the J-curve effect, explain the most likely impact of “the falling value of the Australian dollar” on Australia’s current account (paragraph [4]).

Using price elasticity of demand (PED) data from the text and the J-curve effect, explain the most likely impact of “the falling value of the Australian dollar” on Australia’s current account (paragraph [4]).

Using price elasticity of demand (PED) data from the text and the J-curve effect, explain the most likely impact of “the falling value of the Australian dollar” on Australia’s current account (paragraph [4]).

Using an international trade diagram, explain how “increased quotas for the export of rice to Japan” will affect the price of rice in Japan (paragraph [2]).

Using an international trade diagram, explain how “increased quotas for the export of rice to Japan” will affect the price of rice in Japan (paragraph [2]).

Using an international trade diagram, explain how “increased quotas for the export of rice to Japan” will affect the price of rice in Japan (paragraph [2]).

Using information from the text/data and your knowledge of economics, evaluate the view that free trade is beneficial to Japan’s economy.

Using information from the text/data and your knowledge of economics, evaluate the view that free trade is beneficial to Japan’s economy.

Using information from the text/data and your knowledge of economics, evaluate the view that free trade is beneficial to Japan’s economy.

Define the term relative poverty indicated in bold in the text (paragraph [2]).

Define the term relative poverty indicated in bold in the text (paragraph [2]).

Define the term relative poverty indicated in bold in the text (paragraph [2]).

Define the term economies of scale indicated in bold in the text (paragraph [3]).

Define the term economies of scale indicated in bold in the text (paragraph [3]).

Define the term economies of scale indicated in bold in the text (paragraph [3]).

Using an externalities diagram, explain why “business pollution” is leading to market failure in STP (paragraph [5]).

Using an externalities diagram, explain why “business pollution” is leading to market failure in STP (paragraph [5]).

Using an externalities diagram, explain why “business pollution” is leading to market failure in STP (paragraph [5]).

Using information from the text/data and your knowledge of economics, discuss the role of aid in achieving economic development in STP.

Using information from the text/data and your knowledge of economics, discuss the role of aid in achieving economic development in STP.

Using information from the text/data and your knowledge of economics, discuss the role of aid in achieving economic development in STP.

Define the term absolute advantage indicated in bold in the text (paragraph [3]).

Define the term absolute advantage indicated in bold in the text (paragraph [3]).

Define the term absolute advantage indicated in bold in the text (paragraph [3]).

Define the term asymmetric information indicated in bold in the text (paragraph [6]).

Define the term asymmetric information indicated in bold in the text (paragraph [6]).

Define the term asymmetric information indicated in bold in the text (paragraph [6]).

Using information from the text/data and your knowledge of economics, discuss the view that government intervention is the best way to achieve economic development in Fiji.

Using information from the text/data and your knowledge of economics, discuss the view that government intervention is the best way to achieve economic development in Fiji.

Using information from the text/data and your knowledge of economics, discuss the view that government intervention is the best way to achieve economic development in Fiji.

Evaluate the view that the threat to sustainability, caused by economic activity requiring the use of fossil fuels, is best addressed through the use of carbon taxes.

Evaluate the view that the threat to sustainability, caused by economic activity requiring the use of fossil fuels, is best addressed through the use of carbon taxes.

Evaluate the view that the threat to sustainability, caused by economic activity requiring the use of fossil fuels, is best addressed through the use of carbon taxes.

Explain two reasons why a government might impose indirect taxes.

Explain two reasons why a government might impose indirect taxes.

Explain two reasons why a government might impose indirect taxes.

Explain how the size of the circular flow of income in an economy is likely to be affected by a decrease in the rate of interest.

Explain how the size of the circular flow of income in an economy is likely to be affected by a decrease in the rate of interest.

Explain how the size of the circular flow of income in an economy is likely to be affected by a decrease in the rate of interest.

Evaluate the effectiveness of fiscal policy as a means of achieving long-term economic growth.

Evaluate the effectiveness of fiscal policy as a means of achieving long-term economic growth.

Evaluate the effectiveness of fiscal policy as a means of achieving long-term economic growth.

Explain how aggregate demand is likely to be affected by an increase in the wealth of consumers and an increase in business confidence.

Explain how aggregate demand is likely to be affected by an increase in the wealth of consumers and an increase in business confidence.

Explain how aggregate demand is likely to be affected by an increase in the wealth of consumers and an increase in business confidence.

Evaluate the effectiveness of monetary policy in reducing an economy’s rate of unemployment.

Evaluate the effectiveness of monetary policy in reducing an economy’s rate of unemployment.

Evaluate the effectiveness of monetary policy in reducing an economy’s rate of unemployment.

Explain why governments impose price floors in the market for agricultural products.

Explain why governments impose price floors in the market for agricultural products.

Explain why governments impose price floors in the market for agricultural products.

Explain why a monopolistically competitive firm can make economic (abnormal) profit in the short run, but not in the long run.

Explain why a monopolistically competitive firm can make economic (abnormal) profit in the short run, but not in the long run.

Explain why a monopolistically competitive firm can make economic (abnormal) profit in the short run, but not in the long run.

Discuss the consequences of a perfectly competitive market becoming a monopoly market.

Discuss the consequences of a perfectly competitive market becoming a monopoly market.

Discuss the consequences of a perfectly competitive market becoming a monopoly market.

Explain two causes of demand-pull inflation.

Explain two causes of demand-pull inflation.

Explain two causes of demand-pull inflation.

Evaluate the effectiveness of interventionist supply-side policies in reducing demand-pull inflation.

Evaluate the effectiveness of interventionist supply-side policies in reducing demand-pull inflation.

Evaluate the effectiveness of interventionist supply-side policies in reducing demand-pull inflation.

Explain two causes of structural unemployment.

Explain two causes of structural unemployment.

Explain two causes of structural unemployment.

Discuss the consequences of different types of unemployment.

Discuss the consequences of different types of unemployment.

Discuss the consequences of different types of unemployment.

Explain why the price elasticity of demand for primary commodities is often relatively low while the price elasticity of demand for manufactured goods is often relatively high.

Explain why the price elasticity of demand for primary commodities is often relatively low while the price elasticity of demand for manufactured goods is often relatively high.

Explain why the price elasticity of demand for primary commodities is often relatively low while the price elasticity of demand for manufactured goods is often relatively high.

Discuss the view that tradable permits are more effective than taxes in reducing pollution.

Discuss the view that tradable permits are more effective than taxes in reducing pollution.

Discuss the view that tradable permits are more effective than taxes in reducing pollution.

Explain why cyclical (demand-deficient) unemployment may occur in an economy.

Explain why cyclical (demand-deficient) unemployment may occur in an economy.

Explain why cyclical (demand-deficient) unemployment may occur in an economy.

Evaluate the effectiveness of interventionist supply-side policies in reducing the level of unemployment in an economy.

Evaluate the effectiveness of interventionist supply-side policies in reducing the level of unemployment in an economy.

Evaluate the effectiveness of interventionist supply-side policies in reducing the level of unemployment in an economy.

Explain how expansionary monetary policy could be used to close a deflationary (recessionary) gap.

Explain how expansionary monetary policy could be used to close a deflationary (recessionary) gap.

Explain how expansionary monetary policy could be used to close a deflationary (recessionary) gap.

Explain why governments provide subsidies.

Explain why governments provide subsidies.

Explain why governments provide subsidies.

Discuss the view that governments should always try to prevent the creation of barriers to entry in a market.

Discuss the view that governments should always try to prevent the creation of barriers to entry in a market.

Discuss the view that governments should always try to prevent the creation of barriers to entry in a market.

Explain the causes of cost-push inflation.

Explain the causes of cost-push inflation.

Explain the causes of cost-push inflation.

Discuss the view that deflation is more harmful than inflation.

Discuss the view that deflation is more harmful than inflation.

Discuss the view that deflation is more harmful than inflation.

Explain how the Lorenz curve and the Gini coefficient are used to measure differences in income inequality between countries.

Explain how the Lorenz curve and the Gini coefficient are used to measure differences in income inequality between countries.

Explain how the Lorenz curve and the Gini coefficient are used to measure differences in income inequality between countries.

Discuss the view that taxation is the most effective means of achieving equity in the distribution of income.

Discuss the view that taxation is the most effective means of achieving equity in the distribution of income.

Discuss the view that taxation is the most effective means of achieving equity in the distribution of income.

Define the term trade war indicated in bold in the text (paragraph [1])

Define the term trade war indicated in bold in the text (paragraph [1])

Define the term trade war indicated in bold in the text (paragraph [1])

Define the term consumption indicated in bold in the text (paragraph [3]).

Define the term consumption indicated in bold in the text (paragraph [3]).

Define the term consumption indicated in bold in the text (paragraph [3]).

Using an international trade diagram, explain how US tariffs could affect the export of Chinese steel and aluminium to the US (paragraph [2]).

Using an international trade diagram, explain how US tariffs could affect the export of Chinese steel and aluminium to the US (paragraph [2]).

Using an international trade diagram, explain how US tariffs could affect the export of Chinese steel and aluminium to the US (paragraph [2]).

Using a demand and supply diagram, explain how reduced tariffs on “imported factors of production” would affect the price of Chinese goods (paragraph [7]).

Using a demand and supply diagram, explain how reduced tariffs on “imported factors of production” would affect the price of Chinese goods (paragraph [7]).

Using a demand and supply diagram, explain how reduced tariffs on “imported factors of production” would affect the price of Chinese goods (paragraph [7]).

Using information from the text/data and your knowledge of economics, evaluate the impacts of free trade measures on China’s economy.

Using information from the text/data and your knowledge of economics, evaluate the impacts of free trade measures on China’s economy.

Using information from the text/data and your knowledge of economics, evaluate the impacts of free trade measures on China’s economy.

Define the term current account indicated in bold in the text (paragraph [1]).

Define the term current account indicated in bold in the text (paragraph [1]).

Define the term current account indicated in bold in the text (paragraph [1]).

Define the term depreciation indicated in bold in the text (paragraph [4]).

Define the term depreciation indicated in bold in the text (paragraph [4]).

Define the term depreciation indicated in bold in the text (paragraph [4]).

Using an AD/AS diagram, explain how an increase in oil prices “could worsen inflationary pressures” (paragraph [4]).

Using an AD/AS diagram, explain how an increase in oil prices “could worsen inflationary pressures” (paragraph [4]).

Using an AD/AS diagram, explain how an increase in oil prices “could worsen inflationary pressures” (paragraph [4]).

Using an exchange rate diagram, explain how higher interest rates could “protect the rupee from further depreciation” (paragraph [5]).

Using an exchange rate diagram, explain how higher interest rates could “protect the rupee from further depreciation” (paragraph [5]).

Using an exchange rate diagram, explain how higher interest rates could “protect the rupee from further depreciation” (paragraph [5]).

Using information from the text/data and your knowledge of economics, discuss the possible economic consequences on the Indian economy of a depreciating rupee.

Using information from the text/data and your knowledge of economics, discuss the possible economic consequences on the Indian economy of a depreciating rupee.

Using information from the text/data and your knowledge of economics, discuss the possible economic consequences on the Indian economy of a depreciating rupee.

Define the term recession indicated in bold in the text (paragraph [1]).

Define the term recession indicated in bold in the text (paragraph [1]).

Define the term recession indicated in bold in the text (paragraph [1]).

Define the term privatization indicated in bold in the text (paragraph [2]).

Define the term privatization indicated in bold in the text (paragraph [2]).

Define the term privatization indicated in bold in the text (paragraph [2]).

Using a demand and supply diagram, explain the impact on households of “removing some subsidies on food” (paragraph [5]).

Using a demand and supply diagram, explain the impact on households of “removing some subsidies on food” (paragraph [5]).

Using a demand and supply diagram, explain the impact on households of “removing some subsidies on food” (paragraph [5]).

Using a Lorenz curve diagram, explain the likely impact on income distribution of “plans to encourage investment in rural areas”  (paragraph [5]).

Using a Lorenz curve diagram, explain the likely impact on income distribution of “plans to encourage investment in rural areas”  (paragraph [5]).

Using a Lorenz curve diagram, explain the likely impact on income distribution of “plans to encourage investment in rural areas”  (paragraph [5]).

Using information from the text/data and your knowledge of economics, evaluate the effectiveness of market-oriented policies in achieving economic development in Angola.

Using information from the text/data and your knowledge of economics, evaluate the effectiveness of market-oriented policies in achieving economic development in Angola.

Using information from the text/data and your knowledge of economics, evaluate the effectiveness of market-oriented policies in achieving economic development in Angola.

Define the term economic growth indicated in bold in the text (paragraph [1]).

Define the term economic growth indicated in bold in the text (paragraph [1]).

Define the term economic growth indicated in bold in the text (paragraph [1]).

Define the term poverty trap indicated in bold in the text (paragraph [4]).

Define the term poverty trap indicated in bold in the text (paragraph [4]).

Define the term poverty trap indicated in bold in the text (paragraph [4]).

Using an externalities diagram, explain why the construction of dams on the Mekong River might lead to market failure (paragraph [2]).

Using an externalities diagram, explain why the construction of dams on the Mekong River might lead to market failure (paragraph [2]).

Using an externalities diagram, explain why the construction of dams on the Mekong River might lead to market failure (paragraph [2]).

Using information from the text/data and your knowledge of economics, evaluate the role of foreign direct investment in promoting economic development in Laos.

Using information from the text/data and your knowledge of economics, evaluate the role of foreign direct investment in promoting economic development in Laos.

Using information from the text/data and your knowledge of economics, evaluate the role of foreign direct investment in promoting economic development in Laos.

State two functions of the World Trade Organization (WTO) (paragraph [1]).

State two functions of the World Trade Organization (WTO) (paragraph [1]).

State two functions of the World Trade Organization (WTO) (paragraph [1]).

Define the term free trade indicated in bold in the text (paragraph [1]).

Define the term free trade indicated in bold in the text (paragraph [1]).

Define the term free trade indicated in bold in the text (paragraph [1]).

Using an AD/AS diagram, explain how removing “the import quota will reduce the inflation rate in the Philippines” (paragraph [5]).

Using an AD/AS diagram, explain how removing “the import quota will reduce the inflation rate in the Philippines” (paragraph [5]).

Using an AD/AS diagram, explain how removing “the import quota will reduce the inflation rate in the Philippines” (paragraph [5]).

Using a perfect competition diagram, explain whether farmers in the Philippines are making an economic profit or loss (Table 1).

Using a perfect competition diagram, explain whether farmers in the Philippines are making an economic profit or loss (Table 1).

Using a perfect competition diagram, explain whether farmers in the Philippines are making an economic profit or loss (Table 1).

Using information from the text/data and your knowledge of economics, evaluate the impact on the economy in the Philippines of removing the rice quota.

Using information from the text/data and your knowledge of economics, evaluate the impact on the economy in the Philippines of removing the rice quota.

Using information from the text/data and your knowledge of economics, evaluate the impact on the economy in the Philippines of removing the rice quota.

Define the term fixed exchange rate indicated in bold in the text (paragraph [1]).

Define the term fixed exchange rate indicated in bold in the text (paragraph [1]).

Define the term fixed exchange rate indicated in bold in the text (paragraph [1]).

Define the term monetary policy indicated in bold in the text (paragraph [2]).

Define the term monetary policy indicated in bold in the text (paragraph [2]).

Define the term monetary policy indicated in bold in the text (paragraph [2]).

Using an exchange rate diagram, explain why the “widening trade deficit in services” could lead to a depreciation of the renminbi (paragraph [3]).

Using an exchange rate diagram, explain why the “widening trade deficit in services” could lead to a depreciation of the renminbi (paragraph [3]).

Using an exchange rate diagram, explain why the “widening trade deficit in services” could lead to a depreciation of the renminbi (paragraph [3]).

Using an AD/AS diagram, explain how “increasing China’s interest rate” could affect its economic growth (paragraph [5]).

Using an AD/AS diagram, explain how “increasing China’s interest rate” could affect its economic growth (paragraph [5]).

Using an AD/AS diagram, explain how “increasing China’s interest rate” could affect its economic growth (paragraph [5]).

Using information from the text/data and your knowledge of economics, discuss the view that a depreciating currency is good for the Chinese economy.

Using information from the text/data and your knowledge of economics, discuss the view that a depreciating currency is good for the Chinese economy.

Using information from the text/data and your knowledge of economics, discuss the view that a depreciating currency is good for the Chinese economy.

Define the term gross domestic product (GDP) per capita indicated in bold in the text (paragraph [1]).

Define the term gross domestic product (GDP) per capita indicated in bold in the text (paragraph [1]).

Define the term gross domestic product (GDP) per capita indicated in bold in the text (paragraph [1]).

List two components of the Human Development Index (HDI) (paragraph [1]).

List two components of the Human Development Index (HDI) (paragraph [1]).

List two components of the Human Development Index (HDI) (paragraph [1]).

Using an externalities diagram, explain the benefits of hygiene and sanitation education programmes (paragraph [5]).

Using an externalities diagram, explain the benefits of hygiene and sanitation education programmes (paragraph [5]).

Using an externalities diagram, explain the benefits of hygiene and sanitation education programmes (paragraph [5]).

Using a production possibilities curve (PPC) diagram, explain how the production possibilities (potential output) of the DRC might be affected if there were greater access to electricity (paragraph [4]).

Using a production possibilities curve (PPC) diagram, explain how the production possibilities (potential output) of the DRC might be affected if there were greater access to electricity (paragraph [4]).

Using a production possibilities curve (PPC) diagram, explain how the production possibilities (potential output) of the DRC might be affected if there were greater access to electricity (paragraph [4]).

Using information from the text/data and your knowledge of economics, evaluate the effectiveness of interventionist policies as a means of achieving economic development in the DRC.

Using information from the text/data and your knowledge of economics, evaluate the effectiveness of interventionist policies as a means of achieving economic development in the DRC.

Using information from the text/data and your knowledge of economics, evaluate the effectiveness of interventionist policies as a means of achieving economic development in the DRC.

Define the term absolute poverty indicated in bold in the text (paragraph [2]).

Define the term absolute poverty indicated in bold in the text (paragraph [2]).

Define the term absolute poverty indicated in bold in the text (paragraph [2]).

Define the term investment indicated in bold in the text (paragraph [5]).

Define the term investment indicated in bold in the text (paragraph [5]).

Define the term investment indicated in bold in the text (paragraph [5]).

Using a perfectly competitive firm diagram, explain the effect of declining prices of coffee beans on the profits of Honduras’ coffee farmers in the short run (paragraph [2]).

Using a perfectly competitive firm diagram, explain the effect of declining prices of coffee beans on the profits of Honduras’ coffee farmers in the short run (paragraph [2]).

Using a perfectly competitive firm diagram, explain the effect of declining prices of coffee beans on the profits of Honduras’ coffee farmers in the short run (paragraph [2]).

With reference to the data in Table 2, explain why the GNI per capita for Guatemala is lower than its GDP per capita.

With reference to the data in Table 2, explain why the GNI per capita for Guatemala is lower than its GDP per capita.

With reference to the data in Table 2, explain why the GNI per capita for Guatemala is lower than its GDP per capita.

Using information from the text/data and your knowledge of economics, contrast the potential for economic development in Guatemala and Honduras.

Using information from the text/data and your knowledge of economics, contrast the potential for economic development in Guatemala and Honduras.

Using information from the text/data and your knowledge of economics, contrast the potential for economic development in Guatemala and Honduras.

State one reason why the production possibility curve (frontier) for Country H might shift outwards.

State one reason why the production possibility curve (frontier) for Country H might shift outwards.

State one reason why the production possibility curve (frontier) for Country H might shift outwards.

Country D is an economically less developed country that specializes in the production of primary products. 

Explain two implications for Country D of a relatively low income elasticity of demand for its primary products.

Country D is an economically less developed country that specializes in the production of primary products. 

Explain two implications for Country D of a relatively low income elasticity of demand for its primary products.

Country D is an economically less developed country that specializes in the production of primary products. 

Explain two implications for Country D of a relatively low income elasticity of demand for its primary products.

Calculate the shortage resulting from the imposition of the maximum price.

Calculate the shortage resulting from the imposition of the maximum price.

Calculate the shortage resulting from the imposition of the maximum price.

Calculate the change in producer surplus resulting from the imposition of the maximum price.

Calculate the change in producer surplus resulting from the imposition of the maximum price.

Calculate the change in producer surplus resulting from the imposition of the maximum price.

Calculate the change in consumer expenditure on rice resulting from the imposition of the maximum price.

Calculate the change in consumer expenditure on rice resulting from the imposition of the maximum price.

Calculate the change in consumer expenditure on rice resulting from the imposition of the maximum price.

State two methods of non-price rationing.

State two methods of non-price rationing.

State two methods of non-price rationing.

Calculate Averna’s nominal gross domestic product (GDP) in 2019.

Calculate Averna’s nominal gross domestic product (GDP) in 2019.

Calculate Averna’s nominal gross domestic product (GDP) in 2019.

Using your answer to part (a), calculate Averna’s real GDP per capita in 2019.

Using your answer to part (a), calculate Averna’s real GDP per capita in 2019.

Using your answer to part (a), calculate Averna’s real GDP per capita in 2019.

Explain two reasons why an increase in real GDP per capita may not lead to an improvement in living standards.

Explain two reasons why an increase in real GDP per capita may not lead to an improvement in living standards.

Explain two reasons why an increase in real GDP per capita may not lead to an improvement in living standards.

Table 3 provides information relating to the labour market in the country of Buranda.

Table 3

Calculate the unemployment rate in Buranda.

Table 3 provides information relating to the labour market in the country of Buranda.

Table 3

Calculate the unemployment rate in Buranda.

Table 3 provides information relating to the labour market in the country of Buranda.

Table 3

Calculate the unemployment rate in Buranda.

Identify a period in which Country Y experienced disinflation.

Identify a period in which Country Y experienced disinflation.

Identify a period in which Country Y experienced disinflation.

Calculate the total welfare loss resulting from the imposition of the tariff on chia seeds.

Calculate the total welfare loss resulting from the imposition of the tariff on chia seeds.

Calculate the total welfare loss resulting from the imposition of the tariff on chia seeds.

Discuss the possible consequences of economic growth on living standards, unemployment and inflation.

Discuss the possible consequences of economic growth on living standards, unemployment and inflation.

Discuss the possible consequences of economic growth on living standards, unemployment and inflation.

Discuss whether price will always be lower and output will always be higher in perfect competition compared to monopoly.

Discuss whether price will always be lower and output will always be higher in perfect competition compared to monopoly.

Discuss whether price will always be lower and output will always be higher in perfect competition compared to monopoly.

Using the diagram, calculate the opportunity cost of producing one tonne of bananas in Country A.

Using the diagram, calculate the opportunity cost of producing one tonne of bananas in Country A.

Using the diagram, calculate the opportunity cost of producing one tonne of bananas in Country A.

Discuss the effectiveness of supply-side policies in reducing unemployment.

Discuss the effectiveness of supply-side policies in reducing unemployment.

Discuss the effectiveness of supply-side policies in reducing unemployment.

Define the term monetary policy indicated in bold in the text (paragraph [5]).

Define the term monetary policy indicated in bold in the text (paragraph [5]).

Define the term monetary policy indicated in bold in the text (paragraph [5]).

Using information from the text/data and your knowledge of economics, examine the extent to which access to credit and appropriate technology can contribute to economic development in Kenya.

Using information from the text/data and your knowledge of economics, examine the extent to which access to credit and appropriate technology can contribute to economic development in Kenya.

Using information from the text/data and your knowledge of economics, examine the extent to which access to credit and appropriate technology can contribute to economic development in Kenya.

With reference to your answer to question (b)(ii), calculate the change in the cost of financing the $8 per kg subsidy to the government of San Marcus following the decision to import cotton from the world market.

With reference to your answer to question (b)(ii), calculate the change in the cost of financing the $8 per kg subsidy to the government of San Marcus following the decision to import cotton from the world market.

With reference to your answer to question (b)(ii), calculate the change in the cost of financing the $8 per kg subsidy to the government of San Marcus following the decision to import cotton from the world market.

Discuss the view that economic growth can only be achieved at the expense of other macroeconomic objectives such as a low and stable rate of inflation and equity in the distribution of income.

Discuss the view that economic growth can only be achieved at the expense of other macroeconomic objectives such as a low and stable rate of inflation and equity in the distribution of income.

Discuss the view that economic growth can only be achieved at the expense of other macroeconomic objectives such as a low and stable rate of inflation and equity in the distribution of income.

Evaluate the view that monopoly is an undesirable market structure as it fails to achieve productive and allocative efficiency.

Evaluate the view that monopoly is an undesirable market structure as it fails to achieve productive and allocative efficiency.

Evaluate the view that monopoly is an undesirable market structure as it fails to achieve productive and allocative efficiency.

Define the term absolute poverty indicated in bold in the text (paragraph [2]).

Define the term absolute poverty indicated in bold in the text (paragraph [2]).

Define the term absolute poverty indicated in bold in the text (paragraph [2]).

Define the term variable costs indicated in bold in the text (paragraph [4]).

Define the term variable costs indicated in bold in the text (paragraph [4]).

Define the term variable costs indicated in bold in the text (paragraph [4]).

Using information from the text/data and your knowledge of economics, discuss the possible effects of Chinese involvement on economic growth and development in the Bolivian economy. 

Using information from the text/data and your knowledge of economics, discuss the possible effects of Chinese involvement on economic growth and development in the Bolivian economy. 

Using information from the text/data and your knowledge of economics, discuss the possible effects of Chinese involvement on economic growth and development in the Bolivian economy. 

Using an AD/AS diagram to support your answer, explain the mechanism through which monetary policy can help an economy reduce the level of unemployment.

Using an AD/AS diagram to support your answer, explain the mechanism through which monetary policy can help an economy reduce the level of unemployment.

Using an AD/AS diagram to support your answer, explain the mechanism through which monetary policy can help an economy reduce the level of unemployment.

Using an AD/AS diagram, explain the likely impact on the Canadian economy of the increase in the official interest rate (paragraph [1]).

Using an AD/AS diagram, explain the likely impact on the Canadian economy of the increase in the official interest rate (paragraph [1]).

Using an AD/AS diagram, explain the likely impact on the Canadian economy of the increase in the official interest rate (paragraph [1]).

Using the information in Table 2 for Country B, calculate the rate of economic growth between 2014 and 2015.

Using the information in Table 2 for Country B, calculate the rate of economic growth between 2014 and 2015.

Using the information in Table 2 for Country B, calculate the rate of economic growth between 2014 and 2015.

State two reasons that could have caused an increase in the supply of US$.

State two reasons that could have caused an increase in the supply of US$.

State two reasons that could have caused an increase in the supply of US$.

Gardia’s investment (in plant and equipment) increased by 11 million gamma in the last month. In the same month, its government spending decreased by 8 million gamma. It has been estimated that the marginal propensity to consume (MPC) on domestic goods and services in Gardia is 0.75.

Calculate the maximum possible increase in real gross domestic product (GDP) in Gardia that could result from the changes in investment and government spending.

Gardia’s investment (in plant and equipment) increased by 11 million gamma in the last month. In the same month, its government spending decreased by 8 million gamma. It has been estimated that the marginal propensity to consume (MPC) on domestic goods and services in Gardia is 0.75.

Calculate the maximum possible increase in real gross domestic product (GDP) in Gardia that could result from the changes in investment and government spending.

Gardia’s investment (in plant and equipment) increased by 11 million gamma in the last month. In the same month, its government spending decreased by 8 million gamma. It has been estimated that the marginal propensity to consume (MPC) on domestic goods and services in Gardia is 0.75.

Calculate the maximum possible increase in real gross domestic product (GDP) in Gardia that could result from the changes in investment and government spending.

Based on the information in Figure 2, state whether the firms in this market are making normal profits, economic profits or economic losses.

Based on the information in Figure 2, state whether the firms in this market are making normal profits, economic profits or economic losses.

Based on the information in Figure 2, state whether the firms in this market are making normal profits, economic profits or economic losses.

Using Figure 7, calculate the welfare loss as a result of Country B imposing the tariff.

Using Figure 7, calculate the welfare loss as a result of Country B imposing the tariff.

Using Figure 7, calculate the welfare loss as a result of Country B imposing the tariff.

Define the term trade war indicated in bold in the text (paragraph [3]).

Define the term trade war indicated in bold in the text (paragraph [3]).

Define the term trade war indicated in bold in the text (paragraph [3]).

Using an AD/AS diagram, explain the impact on the potential output of the Philippines of the government increasing its “spending on new airports, roads and bridges” (paragraph [4]).

Using an AD/AS diagram, explain the impact on the potential output of the Philippines of the government increasing its “spending on new airports, roads and bridges” (paragraph [4]).

Using an AD/AS diagram, explain the impact on the potential output of the Philippines of the government increasing its “spending on new airports, roads and bridges” (paragraph [4]).

Using information from the text/data and your knowledge of economics, evaluate the use of export promotion as a means of achieving economic development in the Philippines.

Using information from the text/data and your knowledge of economics, evaluate the use of export promotion as a means of achieving economic development in the Philippines.

Using information from the text/data and your knowledge of economics, evaluate the use of export promotion as a means of achieving economic development in the Philippines.

Using a costs diagram, explain how the expansion of the coconut industry could lead to economies of scale (paragraph [4]).

Using a costs diagram, explain how the expansion of the coconut industry could lead to economies of scale (paragraph [4]).

Using a costs diagram, explain how the expansion of the coconut industry could lead to economies of scale (paragraph [4]).

Using a production possibility curve (PPC) diagram, explain how damage to Fiji’s infrastructure has affected its production possibilities (paragraph [1]).

Using a production possibility curve (PPC) diagram, explain how damage to Fiji’s infrastructure has affected its production possibilities (paragraph [1]).

Using a production possibility curve (PPC) diagram, explain how damage to Fiji’s infrastructure has affected its production possibilities (paragraph [1]).

Discuss the importance of price elasticity of demand and cross price elasticity of demand for a firm’s decision making.

Discuss the importance of price elasticity of demand and cross price elasticity of demand for a firm’s decision making.

Discuss the importance of price elasticity of demand and cross price elasticity of demand for a firm’s decision making.

Evaluate the effectiveness of monetary policy in reducing an economy’s rate of inflation.

Evaluate the effectiveness of monetary policy in reducing an economy’s rate of inflation.

Evaluate the effectiveness of monetary policy in reducing an economy’s rate of inflation.

Explain the reasons for the shape of the long-run average total cost curve.

Explain the reasons for the shape of the long-run average total cost curve.

Explain the reasons for the shape of the long-run average total cost curve.

Using an AD/AS diagram, explain how the construction of the China–Laos railway will contribute to economic growth in Laos (paragraph [1]).

Using an AD/AS diagram, explain how the construction of the China–Laos railway will contribute to economic growth in Laos (paragraph [1]).

Using an AD/AS diagram, explain how the construction of the China–Laos railway will contribute to economic growth in Laos (paragraph [1]).

Assuming that 25 000 pencils are produced initially, identify the opportunity cost for Country H if the production of rice is to be increased by 100 %.

Assuming that 25 000 pencils are produced initially, identify the opportunity cost for Country H if the production of rice is to be increased by 100 %.

Assuming that 25 000 pencils are produced initially, identify the opportunity cost for Country H if the production of rice is to be increased by 100 %.

Good A and Good B are in joint supply.

Using a diagram to support your answer, explain the impact on the market for Good B of an increase in the price of Good A.

Good A and Good B are in joint supply.

Using a diagram to support your answer, explain the impact on the market for Good B of an increase in the price of Good A.

Good A and Good B are in joint supply.

Using a diagram to support your answer, explain the impact on the market for Good B of an increase in the price of Good A.

Calculate Buranda’s terms of trade index for 2008 and 2018.

Calculate Buranda’s terms of trade index for 2008 and 2018.

Calculate Buranda’s terms of trade index for 2008 and 2018.

Using your answers to part (g)(i), explain how the change in Buranda’s terms of trade may act as a barrier to economic development.

Using your answers to part (g)(i), explain how the change in Buranda’s terms of trade may act as a barrier to economic development.

Using your answers to part (g)(i), explain how the change in Buranda’s terms of trade may act as a barrier to economic development.