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1. Explain how the aggregate supply curve for the entire economy can be derived under;
i. Classical assumption
ii. Keynesian assumption
2. Explain how equilibrium can be achieved in both the good and money market?
3. Explain how the three different shapes of Lm curve?
4. Explain how a reduction in taxes can lead to crowding out effect in an economy?
what is externalities and market inefficiency
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Functions of money in any modern economy: A medium of exchange: Money facilitates the exchange of goods and services because, people exchange the goods and services they produ
What aspects of amino acid structure are involved in the formation and stabilisation of beta-sheets in proteins?
Look at a recent copy of a newspaper . a. What is the top economic news story? With which of the big questions does it deal? (It must deal with at least one of them and might d
Ask questA rmuses 4 inputs to produce 1 output. The production function is f (x 1 ; x 2 ; x 3 ; x 4) =minfx 1 ; x 2 g + minfx 3 ; x 4 g.ion #Minimum 100 words accepted#
Market Demand Market Demand Curves - A curve which relates the quantity of a good that all the consumers in a market buy to price of that good. Determining Market Demand
Comparison with Our Needs: We can further test our performance by juxtaposing it with our requirements. Admittedly, it is very difficult to determine 'needed' rate of growth w
Features of bureaucracy: Impersonal Order: The authority is inherent in the post and not the individual who performs the official role. An official is supposed to have a det
prove that marginal utility of x=the price of commodity x.
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