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How have you responded to increases in the price of gasoline over the past few years? How would you respond if the price of gasoline doubled over the next two years? What alternati
Explain why P=MC in the short-run equilibrium of the perfectly competitive firm, whereas in the long-run equilibrium P=MC=AC.
what cause keynesian unemployment?
Those economists who believe that monetary policy is more potent than fiscal policy argue that the: A) Responsiveness of money demand to the interest rate is large. B) Responsive
Why do some countries have a high real per capita income? High standard of living within the industrialized nations consider to be largely because of the high productivity of
If Starbucks's marketing department estimates the income elasticity of demand for its coffee to be 2.9, how will the prospect of an economic bust (expected to decrease consumers' i
it has been argued that economic development of developing countries has been held back by a persistent fall in the terms of trade of developing countries over the long run
An economy shows the following features C=50+0.9(Y-T) T=100 I=100-5i G=100 L=0.2Y-10i M/P=100 X=20 M=10+0.1Y a)Obtain the IS and LM for this economy b)Find out the equilibrium inc
distnguish betweenNational income at market price and National Income at factor cost, explain the importance of the distinction
What is Inherent Limitation?
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