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The more certain private property rights are,
a. the less people need to invest in education or human capital development.
b. The less entrepreneurship there will be.
c. the more capital accumulation there will be.
d. the more an economy must grow to maintain a certain living standard.
Business Cycles Economic growth is not a continuous process. Superimposed on the long-term trends are short-term fluctuations in the levels of economic activity and\or in grow
1 (a) List two concerns with inflation. (b) Suppose that we are in a condition of fully flexible prices, but production of nails will not go above 200 chairs/month. What price w
using a graph of the classical labour market,illustrate the effects of a real wage existing in the market that is lower than the equilibrium real wage.What will eventually happen i
Axiom of completeness: Consumer's choice is complete. Implication: Since consumer is rational, she must have a unique preference relation. That means the consumer choice is ei
Explain the concept of elasticity and describe why the supply of petrol in the short run is relatively inelastic.
How much does GDP rise in each of the following scenarios: 1. During a recession, the government raises unemploymemnt benefits by $100 million. 2. A new US airline purchases
New technology was just invented that decreases the cost of planting and harvesting soybeans: show the effect of this on the soybean market. Show the effect of that on the tofu mar
With the aid of a diagram explain the Philip''s curve
1) Consumption is positively related to stock market wealth but negatively related to taxes and tax rates.
Assuming that the expectations theory is the correct theory of the term structure, calculate the interest rates in the term structure for maturity. Next, plot the resulting yield c
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