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What is the definition of opportunity cost?
Your company has asked you to analyze two mutually exclusive projects for the coming year. Project A will have an initial outlay of $7,200. Project B will cost $6,800. Both project
Whenever real GDP declines, nominal GDP must also decline
Read "How Did Economists Get It So Wrong" by Paul Krugman and second, the blog "History of Economics Playground", by Pedro Duarte, Tiago Mata, Clement Levallois, Yann Grd...etc., t
Q. Explain about Labor Market in AS-AD model? In AS-AD model, economy will always be on the response curve - the thick line in chart below. Figure: The labor in the
what does phillip curve signify? how do you reconcile the difference in the shap of the curve in the short run and the long run?
1. if the marginal cost of seating a theatergoer is $5 an the elasticity of demand is -3, the profit maximizing price is? 2. A firm determined that its total cost of production
GDP vs GNP in kenya
What are prices indexes designed to measure? Outline how they are constructed. When GDP and other income figures are compared across time periods, explain why it is important to ad
The Transmission Mechanism The mechanism by which the changes in monetary policy affect aggregate demand is called 'transmission mechanism'. Two stages in transmission mechanis
types of production function models
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