The table below represents economic transactions for country XYZ in billions of shillings: Total output Intermediate purchases Agriculture 30 10 Manufacturing 70 45 Services 55 25 […]

Why is it important to estimate National Income of a Country? What difficulties do economists encounter while carrying out such a task particularly in developing countries?

Discuss the tax implications of the following independent transactions: (i) 16% VAT paid on a new factory building constructed on behalf of Wema Ltd. VAT of […]

Inspection and monitoring of quality control by a firm of auditors involves both inhouse and external procedures. The internal procedures include the post-audit review, sometimes known […]

Interlink Services Ltd. (ISL) are in the process of introducing a new service. The technical services manager has listed following activities, their predecessors and associated costs: […]

Discuss the three approaches used in measuring the national income of a country and show why they give the same estimate.

Assume the following information represents the National Income Model of an „Utopian‟ economy. Y = C + I + G C = a + b(Y – […]

Joseph and Anne can use one strategy some of the time and the other strategy the rest of the time. Consider the following case of player […]

(a) In the context of game theory, explain the following statement: “winning isn’t everything; it is the only thing” (5 marks) (b) The optimal solution of […]