problem 1:

What might be the possible causes of inflation along with economic theory?

problem 2:

Taking stable prices and full employment as two macroeconomic objectives of government critically discuss and illustrate how fiscal and monetary policies could be used to accomplish them.

problem 3:

What factors are likely to affect the size of price elasticity of demand?

problem 4:

A publicly owned bus line is running at a loss. How can knowledge on the elasticity of demand for bus rides aid in this situation?

problem 5:

Make a distinction between economic growth and economic development.

problem 6:

Describe carefully how, using the expenditure approach, national income is computed.

problem 7:

Critically investigate the dissimilar measures of economic development.

problem 8:

Elucidate using diagrams why a 10% raise in investment leads to a higher percentage raise in National Income?