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Nature of Expectations in Keynes' Theory : The above discussion on the nature of expectations in Keynes' theory may be summarised as follows: 1) In forming long-term expec
How Airlines solve the perishability of unsold seats and what they do to their prices as the seats get close to perish?
List four characteristics of monopolistic competition
Unemployment: Unemployment refers to a situation where people who are willing and able to work do not find jobs at the existing wage rate.For a person to be referred to as une
What is paramagnetic?
Suppose that demand is downward sloping and supply upward sloping. Subsidies cause dead weight loss despite the fact that: 1)consumer surplus increases. 2)total surplus increases
who is a rational producer?
What is use of analytical tools in the modern economics? Analytical Tools: Modern economics also gives different powerful analytical tools which are usually specified by geo
Illustrates the key terms of excise tax? Terms of excise tax: a. Tax incidence • Who bears the load of the tax? b. Excess burden or Deadweight loss • Taxes inflict
Expenditure Trends and Pattern: Total expenditure of the Centre has risen twice as fast as total revenue, although much of this reflects rising interest payments. Revenue expe
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