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Economics 7136/3 June 2022

Economics 7136/3 June 2022

The paper integrates microeconomic and macroeconomic principles, emphasizing analytical reasoning and real-world applications. Section A covers price elasticity, production possibility frontiers, systemic risk, taxation, and labor market dynamics, including monopsony and seasonal unemployment. Key themes include externalities, market failure, fiscal policy, and economic efficiency. Section B investigates the commercial aircraft manufacturing industry, focusing on competitiveness, economic forecasting, and government intervention. Topics include international trade, innovation, industry trends, and the role of public subsidies. The paper highlights resource allocation, market structures, and policy evaluation while fostering critical thinking about economic impacts on industries and global markets.

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Classification: Paper 3
Page count: 36
Viewed: 88
Last update: 8 months ago
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