problem1. Illustrate the dissimilar kinds of unemployment that exist.
problem2. Critically inspect how monetary policy can be employed to deal with inflation.
problem3. Critically examine how fiscal policy can be employed to deal with unemployment.
problem4. What are the causes of the inflation?
problem5. Make a distinction between price, income and cross elasticity of demand.
problem6. Would you agree that, in order to maximize total revenue, the manager of a supermarket must understand and apply the concept of price elasticity of demand? Describe your reasoning, with the help of suitable exs and diagrams.
problem7. Discuss how a supermarket can sell many products at extremely low prices, despite their higher fixed costs.