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2. Discuss the meaning of the following concepts (and substantiate in a proper footnote reference your authoritative source):
2.2 Objectivity
Due to substantial increases in prices in Country A, the real income level of the population in Country A decreases. Show on a diagram how the decrease in the income level in Country A will affect the demand for meat, which is a normal good. Also indicate how the equilibrium price and equilibrium quantity of meat will change in Country A. The direction of any changes should be clearly indicated using arrows.
In what way is applied economics important in tackling economic issues or problems of the country?
2. Discuss the meaning of the following concepts (and substantiate in a proper footnote reference your authoritative source):
2.1 Fact
Based on Above Information calculate
A, Gross Domestic Product
B, Gross National product
C, Net National Income
D, National Income
E, Trade Balance
Why economics play a vital role in our daily lives?
If the current (I) in a long solenoid is doubled and number of turns per unit length (n) are halved, find the effect on the magnetic field (i) inside and (ii) outside the solenoid.
17. The moisture removed from a material is 200 lb/hr and change of humidity ratio in dryer is 0.015. Determine the fan capacity if specific volume of air entering is 38 ft3/lb. Please the answer with solution.
In a current carrying solenoid, determine the 𝑑𝐵/𝑑𝑥 value at the (i) both ends and (ii) centre of the solenoid.
1. “Africa had no history prior to European exploration and colonization, that there is only the history of Europeans in Africa. The rest is darkness”, her past “the unedifying gyrations of barbarous tribes in picturesque but irrelevant corners of the globe” (Trevor-Roper, 1963: 871).
Based on the historical debates you have come across, do you agree with Trevor-Roper’s view?
