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i) -24% / 20% = -1.2

ii) One possible factor that leads to a PED value of SSBS > 1 is the large availability of substitutes such as diet drinks.

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i) The economic concept here is cross elasticity of demand (XED).

ii) The value is likely to be a positive value that has a magnitude of <1. The XED would be the percentage change of quantity demanded for water / the percentage change in price of SSBs. As such, an increase in the prices of SSBs would lead to an increase in the quantity demanded for water because water is a substitute for SSBs. However, water is a weak substitute of SSBs as it does not meet the wants given by SSBs such as its sweet taste. Therefore, the value is <1. This would also imply that a change in price of SSBs would lead to a less than proportionate increase in the Qd of water.

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First Reason: By strengthening their brand, their brand becomes more well known and hence more consumers will be attracted to it. In addition, this can also boost consumer loyalty in the long run. This can help to maximize and increase the profits they gain.

Second Reason: By differentiating their products, the products would become more unique and producers can now gain an advantage and competitive edge over potential competition. This would reduce the number of substitutes for their products which inevitably causes them to be more demand inelastic (PED<1). Producers can now increase the prices of their products, leading to a less than proportionate decrease in the Qd for the products. As a result, more revenue is gained by doing this.

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i) The nominal exchange rate of the Taka is depreciating between 2000 and 2004.

ii) From the table, it shows that the current account balance has improved from -418 to 1547, representing a change form a deficit to a surplus. This means that there are more exports than imports and hence there should be a shortage of Taka, which drives the prices of the Taka up, hence appreciating the Taka.

iii) Gini Coefficient is a measurement of income inequality, where its value is between 0 and 1 where 0 corresponds to perfect equality and 1 corresponds to perfect inequality. The change in the Gini Coefficient in Bangladesh is that it has decreased, which shows that the income inequality improved.

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A public good is a good that is both non-excludable and non-rivalrous.

When a good is non excludable, it it not feasible for the provider to prevent non-payers from enjoying the good, once it is provided. Roads have the potential to be excludable due to the presence of road barriers such as tollbooths

When a good is non-rivalrous, the consumption of the good by one additional person does not affect the consumption of another person. Roads become very rivalrous as road space can be limited at any one time. Hence, more cars on the road will limit the space of others, leading to road congestions.

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From Table 2, the YED value of electricity in Australia is 0.60 which is more than 0. Hence, people in Australia treat electricity as a necessity. The YED value of electricity in Bangladesh is 1.91 which is more than 1. Hence, people in Bangladesh treat electricity as a luxury good. In Bangladesh, the income levels are very low and they do not having easy access to electricity. Hence, the people tend to treat electricity as a luxury good. Electricity is
perceived as a luxury good in Bangladesh. Whereas in Australia, the income levels are higher and thus electricity is perceived as a necessity.

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Investing in infrastructure projects is a form of government expenditure which is a component of aggregate demand. An increase in the G will therefore lead to an increase in AD of both Singapore and Bangladesh.

[Explain multiplier process]
[Explain why SG multiplier is smaller]

However, there will be different impacts. As Singapore has a high car ownership, the government will spend more on roads to accommodate the increasing number of cars on the road in order to reduce congestion and pollution levels. As such, there will be high government expenditure in Singapore on roads which will lead to a larger increase in AD.

In Bangladesh however, there is only a minority of the population who owns cars and hence the government would choose not to invest much in roads as it might be underutilized and thus lead to a loss in profit and funds. As such, government expenditure might be lower as compared to Singapore on roads, leading to a smaller increase in AD.

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Inclusive growth refers to