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Define the term- Wages and income
Remember that by wage we mainly mean what you receive for working one hour, whereas income is the total revenue from all sources over a longer time period (like a month). Your income relies on the wage however also on number of hours you work. An individual may have a very high wage though a low income (say $1000 per hour but only working 1 hour per month) or a low wage however a high income (for instance by owning stocks or bonds). Do not confuse wage with income.
At first, Say's Law may seem 'obvious'. Though, it's not - actually, it's highly controversial. The reason it may seem obvious is that you have perhaps learned from microeconomics
Using a flexible exchange rate system with imperfect capital mobility explain the impact that an open economy has on the effectiveness of monetary and fiscal policy. 2. Using a fl
In multiple regression analysis, before testing the significance of the individual regression coefficients, (a) the intercept must equal 0. (b) the multiple standard error of the e
who are cheap money;gainers and losers
Half the members of a fishing tribe catch four fish per day and half catch 10 fish per day. A group of 10 members could build a boat for another tribe in one day and receive a paym
1. Consider a natural monopoly. I. Show graphically and discuss how price and quantity are set by the natural monopolist. II. Define the areas corresponding to the consumers'
Define the term- inflation Inflation between two points in time is defined as the percentage increase of price index between these two points in time.
Tariffs and Non-tariff Barriers A significant aspect of the trade reforms of the 1990s was the reduction in the then prevailing very high import duties (over 300 percent in so
The government in the cross model Net taxes NT(Y) depends positively on real GDP in the cross model In this model when national income increase
A local movie theater wants to know how much popcorn they should stock for a given movie showing. Records from 94 movies reveal a mean of 57 boxes and a standard deviation of 17.8.
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