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Explain the main contribution for Alfred Fisher Marshall, Economist of neo-classical school of Economic Thought and how his contributions have improved the modern day understanding and application of Economics.

( In 400 words)


Explain the main contribution for Joseph Schumpeter, Economist of neo-classical school of Economic Thought and how his contributions have improved the modern day understanding and application of Economics.

( In 400 words)


Explain the main contribution for Vilfredo Pareto, Economist of neo-classical school of Economic Thought and how his contributions have improved the modern day understanding and application of Economics.

( In 400 words)


Explain the main contribution for Leo Walrus, Economist of neo-classical school of Economic Thought and how his contributions have improved the modern day understanding and application of Economics.

( In 400 words)


Explain why money is not income


Calculate the measurement used in assessing economic growth.

Based on the answer above, explain whether the economy performed.


Calculate the measurement used to assess full employment and based on your answer, explain whether the economy performed.


Does the economy meet the inflation target set out by the SARB?

Calculate the inflation rate to substantiate your answer.


What type of event must happen for the exchange rate to change from R8:$1 to R9:$1 and the amount of USD traded daily to increase, as illustrated.

In Rwanda local farmers manage small plots of land for subsistence farming. However, some have benefited by selling pineapples at an agreed fixed price to an exporter. The exporter provides finances, training, fertilizers and machinery and even building materials for the farmer’s homes. Explain the benefits which may be gained by the local community in Rwanda from the project.


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