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What is the theory of absolute and comparative advantage?
example of marginal opportunity cost
Rationale for government intervention There are six major functions the government can perform in an economy. 1. The government provides a legal and social framework within which
Demand Pull Inflation and Cost-Push Inflation: Demand Pull Inflation: It describes a sustained increase in the general price level that is caused by a permanent increase in n
What are the differences between the IS-LM model and the Keynesian model? The 'simple' Keynesian model is a simplified model to exemplify Keynes's idea about the equilibrium i
WHAT IS OPPORTUNITY COST
Selecting Output in Short Run * We will combine production and cost analysis with demand to determine output and profitability. A Competitive Firm Making Positive Profit
under which market structure does the banking sector fall?
why use GNP in macroeconomichs analysis
Formal and Informal systems - MRP System Most production systems are full of 'pushes' and 'pulls'. The formal system issues orders, ie 'pushes'. The informal system tries to
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