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a. Referring to the table below and using the "Rule of 70," comment on long-term changes in the standard of living in the United States? b. Would you rather live in the Unite
3, chapter 12
REAL BUSINESS CYCLES: The extent of this module is partly indicated in the title. It is about real business cycle (RBC) theory. In addition, it exposes you to New Classical Bu
ELEMENTARY THEORY OF PRICE FORMATION: DEMAND-SUPPLY ANALYSIS: We discuss the elementary theory of price formation. Demand curve in the market is derived from the aggregate con
Consider the following insurance market. There are two states of the world, B and G, and two types of consumers, H and L, who have probabilities pH =0.5 and pL =0.25 (high and low
What are the economies and diseconomics of scale?
The following model shows the consumption function given: Ct = AD t β 2 Where A and β 2 are unknown constants and D is disposable income. (a) Show how by taking logari
Question 1: (a) Discuss the adjustment to an increase in demand for a perfectly competitive market in the: (i) Short run (ii) Long run (b) How would the same industry
How to solve questions of endowments?
different btn elesticity of demand and inelasticity of demand
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