Briefly answer the following questions. Consider the followingstatements In a Mixed economy there is only private...

Briefly answer the following questions.

Consider the followingstatements

In a Mixed economy there is only private ownership of means of production
In a communist nation, the means of production are owned by the state
In a free-market economy there is minimum role of the government.

Which of the above three statements is/are true?

b. Answer the following:

Who is credited with bringing the term the ‘’invisible hand’’ in economics? And what it means?
Why intermediate goods are not included to calculate the final output? Explain with an example
If we compare GDP and GNP, then, GNP= GDP+ net income from abroad explain true or false.
What policy options might be used by Government to lower unemployment? Reduce government spending or Increase interest rates or lower taxation and why?
Explain the Monetary Policy, its types and its importance in GDP growth? What type of monetary policy does Pakistan have and what repercussions have we faced due to our monetary policy in history? ( time frame; 2000 onwards)
Evaluate money supply with reference to inflation and unemployment? Explain by graphical representation.

Expert Solution

Rahul Sunny answered 1 year ago

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