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Fundamentals of economics
I need your HELP answering these questions:
1. Explain how the circular flow diagram illustrates the interaction of households, governments, and business?
2. Illustrate market equilibrium using supply and demand curves?
3. Differentiate between movement along and shift of the demand curve?
4.Explain the relationship between market and aggregate supply and demand?
Can your answers be in paragraphs and can you give me the sources.Also can you give me the meanings to circular flow diagram, market equilibrium, demand curve and aggregate?
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Supply demand analysis to elucidate how the prices of untaxed consumption items can be affected by the retail sales tax even though they are not subject to taxation.
Suppose an economy only produces single consumption well. Consider permanent upward shift of production function. Graphically describe the effects on each of following:
Use the data in the table to the right to answer the following questions. What is the external cost per unit of production? What level is produced if there is no regulation of the externality?
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The percentage changes in quantity demanded divided by the percentage change in price.
Show the changes to the T-accounts for the Federal Reserve and for commercial banks when the Federal Reserve buys $50 million in U.S. Treasury bills.
Fill in the table indicating whether the new Each row and column heading describes a shock to a market initially in equilibrium. Fill in the table indicating whether the new equilibrium price and quantity will increase, decrease, or not change.
Explain how does the increase in the after-tax price depend on the price elasticity of demand
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