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What are the differences between the IS-LM model and the Keynesian model?
The 'simple' Keynesian model is a simplified model to exemplify Keynes's idea about the equilibrium income.
On the other hand, the IS-LM model is a more general model (involving more variables, e.g., P and r) to demonstrate Keynes's idea about the equilibrium income.
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#question#.problems and its solution of microecnomics
Summary of Demand and Supply Considerations of Education A study of supply and demand considerations in education helps in understanding four major issues and concerns of an e
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1 Differentiate between a firm and a market. 2 Graphically illustrate (i.e. draw) and explain the relationship between the market demand curve and the individual firm's demand c
Mr. Smith can cause an accident, which entails a monetary loss of $1000 to Ms. Adams. The likelihood of the accident depends on the precaution decisions by both individuals. Spe
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The distinction between supply and the quantity supplied is best made by saying that
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