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Unformatted text preview: Marks 20 2 a) Define inflation and explain the causes of inflation with the help of examples. b) Discuss the effect of inflation on employment and output of an economy. Marks 15 3) What are the three sectors of an economy and what economic agents is each sector composed of ? Explain why and how the government intervenes in the market to reallocate resources. Marks 15...
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This note was uploaded on 01/18/2012 for the course ECON 501 taught by Professor Ibrar during the Spring '11 term at University of the Punjab.
- Spring '11