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Question: Suppose that Robinson Crusoe regards employment and goods as perfect substitutes on the demand side, and produces with a decreasing returns technology.
(a) Does the Crusoe economy have a competitive equilibrium?
(b) Illustrate the process whereby the Walrasian auctioneer adjusts real wages in order to find it.
(c) Draw the excess demand functions for the goods and labour markets.
it is estimated that the financial crisis of 2008 led to a loss of 7 trillion in the real estate industry due to the
part a 1. describe three 3 ways we can use macroeconomic analysis with one 1 original example for each way.2.you are
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Identifying Use a graphic organizer like the one below to describe the nonbank financial intermediaries.
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