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Liberalisation of the Economy: Removal of Industrial Licensing: All industrial licensing was abolished but for a shortlist of 18 industries related to security and strategic
what is ratios GNP? what is use of models in macroeconomics?
CONSUMER CHOICE INVOLVING RISK: The traditional theory of consumer behaviour does not include an analysis of uncertain situation. Von Neumann and Morgenstern showed that under
why is elasticity important for beachfronf properties
a severe restriction occurs to the availability of consumer credit throughout the banking and finance system
Problems Using Point Elasticity - We may need to compute price elasticity over portion of demand curve instead of at a single point. - The price and quantity used as base wi
what does General Equilibrium in consumption means?
if the inverse demand curve is p=120-Qand the marginal cost is const ant at 10 ,
Unemployment Rate A measure of labor force utilization the unemployment rate is equal to the number of people which is unemployed as a percentage of the total labor force.
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