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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.
Danny is an investment banker and has income I = 300. When prices are px = 10 and py = 20, Danny consumes the bundle (x; y) = (6; 12). 1. Illustrate Danny's budget constraint
types of production function models
Q. Illustrate diffrent types of money? In most countries, one may identify two 'types of money': Bank deposits Currency and coins The total value of all th
Illustrate the circular flow of income and expenditure according to their models ( classical and keynesian)
Problem 1 a. Define ERP. Explain the terminology related to ERP. b. How ERP evolved in a system? a. Definition. >>Description on point of sale, MRP-I, MRP-I
what is microeconomics
In a ___________ exchange rate system each trading nation is impacted directly by the supply and demand for their currency. A) Fixed B) Dirty C) Floating D) Clean
briefly explain any five uses of national income statistics
Consider a market where supply and demand are given by QXS = -18 + PX and QXd = 90 - 2PX. Suppose the government imposes a price floor of $41, and agrees to purchase any and all un
Including different interest rates with different maturities would complicate the models however it wouldn't buy you very much. Because interest rates with different maturities are
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