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Which of the following is assumed in constructing a typical production possibilities curve?
a. the economy is engaging in international trade.
b. production technology is fixed.
c. the economy is using its resources inefficiently.
d. resources are perfectly shiftable (equally efficient) among alternative uses.
a) Use the arc-approximation formula to calculate the price-elasticity of demand coefficient of a firm's product demand between the (quantity, price) points of (100, $20) and (300,
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Q. What is Investment demand? Investment demand Investment I(r) is assumed to be negatively related to the real interest rate r Total dema
what is credit multiplier?
What is Gross National Product? Gross National Product (GNP): It measures the value of output produced through a country is citizens anywhere within the world, in a speci
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