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Q1. Suppose there is a sudden change in the preferences for chocolates. However the price of production rises due to a rise in the price of a milk. Use a demand supply model, to determine what happen to the equilibrium price and quantity in this case.
Q2. What factors underlie whether specialization in production will be partial or complete on an international basis?
Discuss one recent price change that you have noticed while visiting your local supermarket. Determine whether or not the price change that you identified was a result of a change in either supply or demand.
What do we know about the proportion of peanut butter to jam held by Bob in any equilibrium? If Adam held all of the peanut butter in the initial endowment, is it possible that he end up with nothing in the equilibrium?
Illustrate what is the economy's MPC? It's MPS. Illustrate what was the APC before the increase in disposable income.
Notice it is assumed that Brian will spend at least 4 hours per week studying each of the 3 courses.
The nation of Wrexington utilizes the same method to Compute the unemployment rate as the U.S. Bureau of Labor Statistics utilizes. From the data below, Compute Wrexington's unemployment rate.
Elucidate unemployment in relation to the Phillip's curve with an appropriate sketch.
Sketch the aggregate demand-aggregate supply model of the macroeconomic for the short run, assuming that the economy is in the expansionary phase of the business cycle.
What do economists mean when they say markets are mutually interdependent? Give an example to support your explanation
The commercial banking industry in Canada is less competitive than the commercial banking industry in the united states
Which of these types of firms can earn a positive economic profit in the long run.
Identify three roles for money: money is a unit of account, a store of value also acts as a medium of exchange.
Interest on the public debt is included as a part of government purchases in the determining GDP may arise since.
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