Economics Answers

List two (2) demand-side and four (4) supply-side initiating factors which

may be the immediate causes of a possible increase in the inflation rate.

Pharmaceutical drugs have an inelastic demand,

and computers have an elastic demand. Suppose

that technological advance doubles the supply

of both products (that is, the quantity supplied

at each price is twice what it was).

You are the curator of a museum. The museum is running short of funds, so you decide to increase revenue. Should you increase or decrease the price of admission? Explain.

An increase in demand coupled with a decrease in supply would necessarily results in?

Suppose we observe that the equilibrium quantity of a particular good has increased significantly over the past 5 years, with virtually no change in the equilibrium price. The most likely explanation is that, over the past 5 years

Developing countries share a number of common characteristics.’ Firstly, give an account of these common characteristics. Secondly, discuss any one characteristic in a country of your choice and analyse how this condition poses a challenge to the country. Your essay should be split equally between these two parts (50)

Explain in a paragraph the economic meaning of the HR business cycle based on the give-to-get economic duality?

Explain in a paragraph that many organizations use HR data analytics to hire potential employees to avoid hiring unqualified employees. What is your opinion that HR data analytics is an excellent approach to improve hiring efficiency in a paragraph?

Using the reconciliation of the hatch total to avoid payroll errors. Would you explain in a paragraph what is hatch total and how this approach works?