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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.
A bakery has fixed costs of $10 per day and variable costs of $1 per loaf. Its oven can handle up to 50 loaves a day and it is impossible to obtain additional capacity. Sketch the
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Components of Balance of Payments The BoP statement is usually divided into three major groups of accounts. These are: i.The Current Account: This account records the imp
y=vk ?k=s*f(k)-(?+n)k saving rate 28% population growth of 1% Have y persistent size s, n, g and ?function
An investor has a choice of 2 investment opportunities. The first investment yields a gain of $2800 with probability of 0.37, a gain of $1100 with probability of 0.27, and otherwis
subjective questions on national income determination
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calculate, a.the total revenue b.the average revenue c.the marginal revenue price 5 4 3 2 1 0 quantity 0 1 2 3 4 5.
Explain whether the following statements are true or false: a) The long run aggregate supply curve is vertical because economic forces do not affect long run aggregate supply.
assessment of interest rate in the economy of south africa, unemployment
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