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Describe how price level evolves over time
Using the time series we can study how price level evolves over time. If all prices rose by 2% during one month, price level would rise by exactly 2%. If one of the prices rose by 2% when other prices remained unchanged, price level would rise though by much less than 2%. Exactly how much it would rise would rely on the weight of changed price.
DIFFICULTIES IN MEASURING THE NATIONAL INCOME There are some conceptual and statistical problems in measuring national product. Some items are excluded from the national incom
Explain the purposes economists disagree and using models of economics. Using Models of Economics: a. Positive economics b. Normative economics A forecast is an easy p
explain the functions and role of the world bank
HOW MARRIAGE AFFECTS GDP
what does a weaker dollar to a) raise inflation and contract the economy b) reduce inflation and contract the economy c) raise inflation and expand the economy d) reduce inflation
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briefly explain with keynesian consumption?
If you were a restaurant owner and you knew that the demand for your restaurant was elastic, how would you feel about a sales tax on restaurant food? Explain.
How does Opportunity cost and production possibilities relate?
The quantity of coffee demanded, QD, depends on the price of coffee, Pc, and the price of tea, PT. The quantity of coffee supplied, QS, depends on the price of coffee, Pc, and the
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