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a good is classified as inferior if
a. consumers buy less when the price rises
b. consumers buy less when the income rises
c. consumers buy less when the price falls
d. consumers buy more when the price rises
e. better quality goods exist.
The aggregate production function Definition Imagine the national economy during a short period of time (say one week). We refer: L: total amount of work used duri
Who is considered unemployed?
How to get the Euler equation?
What are the international economic crisis A current account surplus can only take place in one nation if there is a current account shortage in another country. So it makes no
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Consider the following: "The physiocrats spoke of the natural order and favored laissez-faire yet strongly supported the absolute authority of the monarchy." Analyze this supposed
Determine about the Expected inflation Note that it is changes in prices during 2008 which matter for the high real interest rate (the time period when your deposit is earning
What is the difference between heckscher_olin theory and comparative theory
1. In December 1979 it was possible to buy a January 1980 contract in gold at the New York Commodity Exchange for $487.50 per ounce and sell an October 1981 contract for $614.80 on
In January of 1997, the U.S. Consumer Price Index (CPI) stood at 159.1. By January of 2008, the level had risen to 211.1. What was the average annual rate of inflation over this ti
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