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a) Briefly explain Peacok-Wiseman Hypothesis (PWH). (b) Differentaite between Displacment effect and Concentration Effect. (c) In your opinion is PWH is still relevant to explain

a) Briefly explain Peacok-Wiseman Hypothesis (PWH).

(b) Differentaite between Displacment effect and Concentration Effect.

(c) In your opinion is PWH is still relevant to explain the growth of public expenditure in case of Malaysia.

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