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Q. Describe classical model of macroeconomics?
Though we use the term ‘the classical model' as if there were just one classical model, this isn't quite true. For all the models we discuss, there are many variations. Though the similarities between, for instance, all the classical models are great enough to warrant expression ‘the classical model'.
However you need to keep this in mind. If you look up the ‘IS-LM model' in different text books you will probably see different models though the main predictions from the models do tend to be the same.
Determine the Economic functions of money There are three functions of economics of money - A medium of exchange. - A unit of account - Store of value.
The total demand (marginal benefit) curve for visiting the Great Barrier Reef is as follows: Price = 5000+100*Fish Biomass (tons per square mile) -10*Number of Trips. a. Does th
how can a country maintain equilibrium GDP with foreign trade?
A design-build-operate engineering company burrowed $6 million for 3 years so that in can purchase new equipment. The interest is compounded and the total amount owed will be paid
how to calculate the ultimate change in deposits and credit?
Consider the following simple economy which consists of two industries, guns (1) and butter (2) and is characterized by the following input-output matrix. Suppose also that
All of the following fiscal policies will contribute to increasing budget deficits except: A. cuts in aid to farmers. B. tax cuts. C. increases in defense expenditures. D. increase
EXPLAIN THE MR AND MC APPROACH FOR EQUILIBRIUM DETERMINATION OF FIRM IN SHORT RUN.
Q. Describe Wages and income? Remember that by wage we characteristically mean what you receive for working one hour, whereas income is the total revenue from all sources over
Explain how inflation unemployment trade off is not feasible under adaptive expectations?
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