Choose any 2 out of the 4 types of unemployment. a) Define and discuss that type of unemployment. (2 each x 2 = 4 marks) b) Provide an example. (1 each x 2 = 2 marks) c) What solutions can governments try to address that type of unemployment. (2 each x 2 = 4 marks)

Some advocates of anti-poverty programs claim that fighting poverty is a public good. Explain what these advocates mean by classifying charity as a public good. Why do governments tend to run programs that help the poor? Can the private sector be left to run those programs? Discuss your answer by focusing on externalities and market failure.

Suppose Taproot Company Limited (TCL) incurs huge advertising expenditure resulting from increased number of advertisements to inform consumers of the brand name of its product. Should consumers conclude that its products are likely to be of higher quality than other unbranded products? Why or why not?

If you had to forecast changing student demand for programs of study at a college or university for the next ten to twenty years, how would you go about doing that?

Q.4  The following relationships hold in economy of Matata Island:

? = 320 + 0.4(? − ?)

? = 150

? = 275

? = 200

a) Explain the concepts of marginal propensity to consume (MPC) and marginal propensity to save (MPS).

b) What is the MPC for this economy?

c) Explain the concepts of the autonomous spending and tax multipliers.

d) What is the autonomous spending multiplier for this economy?

e) What is the equilibrium level of income for this economy?

It is said that some goods such as education (with positive externalities), if left to private decisions, are not produced enough from the society’s point of view. Comment and support your answer graphically. How could the socially acceptable quantity be achieved? Please answer it by using the concepts from Microeconomics.

What is surplus value? What is its source? How is the process of exploitation connected to profit? How does Marx’s theory of exploitation link the wealth of the wealthy to the relative poverty of workers?

According to Marx’s theory it is not just marginalized workers in sweatshops who are exploited. Who is exploited in a capitalist economy?

What is “labor power?” How is it distinguished from "labor?"

a. What do empirical findings suggest regarding the short run and medium run effects of technological change on employment/unemployment?

b. Explain the two factors that determine spending on Research and Development, as discussed in your textbook?

The IS-LM-PC model connects the goods market, the financial market and the labor market.

a. Present a graph (hand-drawn graphs must be scanned and uploaded in pdfformat) of the model and explain the graph in words (e.g. slopes of the curves, what they depict, how are the three markets connected, etc.).

b. Using the IS-LM-PC model graph show the effect of an increase in the price of oil on equilibrium output, price and interest rate both in the short run and the long run. Also explain in words.

describe why you are in need of an emergency grant in as much detail as possible

Suppose that the production function is given by Y=K^(1/2)L^(1/2)

a. Derive the steady state levels of capital per worker and output per worker in terms of the saving rate, s, and the depreciation rate, δ.

b. Suppose δ = 0.05 and s = 0.2. Find out the steady state output per worker.

c. Suppose δ = 0.05 but s increases to 0.5. Find out the steady state output per worker and compare your result with your answer in part b. Explain the intuition behind your results.

Identify Future directions and various perspective on Digital Twin Developments and applications for the crisis caused by Novel Coronavirus (COVID-19).