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Economic functions of money - A medium of exchange This is its most important role. Without money we would live in a barter economy where we would have to trade goods and
: Suppose that 100 people live around a hazardous waste dump. If the people continue to live there for 20 years, one of them will likely contract a painful, non-fatal cancer that w
Roles of government in controlling market forces under neoclassical view
In 1999 Mercedes-Benz USA adopted a new pricing policy, which it called NFP (negotiation-free process), that sought to eliminate price negotiations between customers and new-car de
why is imports subtracted from the expenditure approach
Bob's Bee is a small boutique honey manufacturer in Texas. Bob's neighbor is Jon's James. The more honey Bob produces, the more jam Jon is able to produce; that is, there is
A recent article estimated that the elasticity of the rate of gonorrhea with respect to the price of beer is about 0.8. If this estimate is correct, are unprotected sex and beer su
why and how is price level determined by the monetary sector in the classical model?
Q. Explain about Quantity theory of money? One of the main elements of the classical model is quantity theory of money. Quantity theory of money connects three important variab
What are the indicators of development? Economic development is a complicated multi-dimensional idea. Preferably each aspect of development needs its own indicator. • Prof
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