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A spherical wave is reflected from a planar mirror sufficiently far from the wave origin so that the Fresnel approximation is satisfied. By regarding the spherical wave locally as
INTERNATIONAL DEVELOPMENT ASSOCIATION: International Development Association (IDA) is an affiliate of the IBRD. It was established in 1960 to provide "soft loans" to economica
Non-Accelerating-Inflation Rate of Unemployment (NAIRU): This theory is a variant of neoclassical natural rate of unemployment. As in original natural rate theory, NAIRU advocates
What is indifference curve and its properties?
What is the Adam smith view of "invisible Hand"? Invisible hand is an unknown power which is working for the interest of total economy. In any economy, everybody cares for his
The functions of money include; (1) medium of exchange, (2) store of value, and (3) a calculate of worth. Due to money is acceptable as a form of payment for all commodities,
Q. Perfect Competition in neoclassical economics? Perfect Competition: An abstract assumption, central to neoclassical economics, in that companies are so small that none can i
Question 1: (a) Describe what is Economic growth and describe its relationship with standard of living? (b) Assuming you are the government economist, what policy measures
Labor Productivity - Labor Productivity and Standard of Living - Consumption can increase if productivity increases. - Determinants of Productivity Stock of capit
meaning of opportunity cost under theory of cost
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