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Evaluating a market's equilibrium
In economics, there are three common methods for finding the equilibrium point in any given market: mathematically, graphically, and by inspection. With given information, you may not be able to find the equilibrium price and quantity only one way, so you must be familiar with all three methods in order to be equipped with the tools necessary for evaluating a market's equilibrium.
Use the data below to find out the growth of income per person (over the entire period, not an annual basis) between the two years listed.
Elucidate how an increase in your nominal income and a decrease in your real income might occur simultaneously.
Michael can buy either pizzas or submarine sandwiches. If the prices of pizza and submarine sandwiches double and Michael's money income triples, we can conclude that Michael's budget constraint will
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Explain how have these people changed monetary strategy, fiscal policy also laws that govern businesses since the collapse of the economy.
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