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European economic history explained in this solution
How would you account for the "great divergence" that is the acceleration of economic development in the West in the 19th century while much of the rest of the world remained characterized by low rates of economic growth?
Elucidate whether the following statements are positive or normative economic statements, and explain why you categorized them in that way.
Illustrate and explain the interaction of households, businesses, government and global markets in the circular flow of economic activity.
Explain how would an increase in the present rate of oil affect the time of development if the rate of price increase in the future remains at 2%.
Illustrate what are automatic stabilizers. What are some examples. What are your thoughts about the limits of fiscal policy.
Explain how does the distinction among nominal and real interest rates add uncertainty to the effect of monetary policy on the economy.
Describe how a change in investment can have big impact on GDP causing a nationwide slump. Recall that investment is "small" relative to the entire economy.
In the 1970s people had become accustomed to high inflation. In 1979, Bank of Canada decided to fight inflation and decreased the money supply growth rates.
Using the following schedule, define the equilibrium price and quantity. Explain the situation at price of $10. What will occur? Discuss the situation at a price of $2. What will occur?
Assume total benefits also total costs are given. Elucidate level of Y will yield the maximum net benefits.
As the manager of Pelican Point Financial Group, you are unable to determine whether any given individual is a high or low volume transaction investor. Design a self-selection mechanism that permits you to identify each type of investor.
Elucidate implicit assumptions would an researcher make regarding price elasticity of a magazine.
Consider the following situations. Evaluate how they would affect the level of productivity of labour.
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