Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The following attachments have question 1-4. Help in solving the questions QUESTION THREE (a) Citing practical examples, explain the differences between the following types of

The following attachments have question 1-4. Help in solving the questions

image text in transcribedimage text in transcribed
QUESTION THREE (a) Citing practical examples, explain the differences between the following types of unemployment listed below and how each affects economic growth. Seasonal and casual unemployment. (7 marks) ( 1i) Disguised and unproductive unemployment. (7 marks) (b) Outline policies which if implemented would alleviate the problem of unemployment. (6 marks) (Total: 20 marks) QUESTION FOUR (a) (1) Distinguish between price floors and price ceilings. (4 marks) (ii) Explain the consequences of each situation in (a) () above. (8 marks) (b) Illustrate the determinants of equilibrium market price. (4 marks) (c) Outline the reasons why agricultural prices are more unstable compared to prices of industrial products. (4 marks) (Total 20 marks)QUESTION ONE (a) Distinguish between money, near money and money substitutes. (6 marks) (b) Identify and explain the functions of money. (6 marks) (c) Explain the reasons for liquidity preference for money. (4 marks) (d) Explain any four qualities of money. (4 marks) (Total: 20 marks) QUESTION TWO (a) Define the concept of "national income". (2 marks) (b) Briefly explain how national income is measured. (6 marks) (c) Give reasons why it is difficult to compare the national income of one country with the national income of another country. (6 marks) (d) Outline the factors that determine the level of national income of a country. (6 marks) (Total: 20 marks)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Austro-corporatism Past, Present, Future

Authors: Gunter Bischof

1st Edition

1000675858, 9781000675856

More Books

Students also viewed these Economics questions

Question

Is profit sharing equal in a joint venture? Explain.

Answered: 1 week ago