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KEYNES' THEORY AND EXPECTATIONS : Expectations played a major role in Keynes' theory of the determination of aggregate output and employment in market economies in the short run
Economists view depreciation as capital consumption for them, there are two distinct ways of charging for depreciation (1) the depreciation of equipment must equal its opportunity
True public goods are those goods which can't be provided to one group of consumers, without being provided to any other consumers who desire them. Thus they are "non-excludable."
Paradox of Thrift: An individual household, governmentor business may attempt to save money by reducing their current expenditures. Though those attempts to save, once amalgamated
If producers expect future prices to enhance, current supply will decline in favor of selling inventories at higher prices later. In other words, supply will reduce (a shift to th
the definition of exceptional supply curve
why is international trade important for south africa
What is Economics? Economics is explained as the study of how people choose to use their scarce resources in an attempt to satisfy their unlimited wants. In other words, we h
PRODUCTION AND PRODUCTIVITY DIAGRAM BEHAVIORAL RELATIONSHIP
E-goods are returning to price levels which we thought they had left behind, again the inevitable price elasticity. Why is it so certain that price elasticity will cause those pric
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