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Q. Describe Classical Economics?
Classical Economics:Tradition of economics which began with Adam Smith and continued with other theorists including Thomas Malthus, David Ricardo, Jean-Baptiste Say and others. Classical economists wrote in the early years of capitalism and they uniformly celebrated productive, innovative actions of new class of industrial capitalists. They focused on political development and dynamic economic of capitalism, analysed economics in class terms and advocated the labour theory of value.
Monopoly and Oligopoly help?!? 1. Your firm sells a perfume. The daily demand for your perfume estimated by your economists is given by P=150-5Q Your marginal cost is constant at $
V alue Additivity In an efficient market the value of any 2 assets can be estimated as the sum of the values of the two individual assets. This is a variation on the theme
Problem : "The beliefs that free trade favors only the rich countries and that volatile capital markets hurt developing countries the most have led activists of many stripes
1. Suppose the banking system has reserve of $750000, demand deposits of $2500000 and a reserve requirement of 20%. a. if the fed now purchases $125,000 worth of govt bonds from t
exams?
Determine the productivity level of US Those who live in relatively poor regions of the world today have higher material living standards than their predecessors who lived in t
Q. Food purchases are relatively price inelastic since food is a necessity. If food is so required for life, how will we explain the heavy advertising of food items at the
Static and dynamic multgipier
National income accounting: Final Goods: Final goods are goods and services which are being purchased for final use and not for resale or further processing or manufacturing
Explain why subsidies to domestic firms act as a trade barrier. A trade barrier is broadly explained as any market intervention whereby the ratio of price of exports to price o
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