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What is the difference between economic growth and economic development?
Growth is only individual dimension of development. Economic development is a complicated multi-dimensional concept to do along with enhancements in the human well-being, particularly for poor people. A seer explains development as the elimination of poverty and reduction, inequality and unemployment into a growing economy.
In general, who will benefit as the result of a tariff? Domestic Producers Domestic Consumers The domestic government a. I only b. II only c. both I and III d.
Suppose the annual demand function for the Honda Accord is Qd = 430 - 10 PA + 10 PC - 10 PG where PA and PC are the prices of the Accord and the Toyota Camry respectively (in thous
Question 1: Differentiate between income, price and cross elasticities of demand. How will the concept of price elasticity be useful to the owner of a supermarket who wan
using the fisher equation what can you infer about expected inflation in canada and in the united states?
1. Given the following production function: Y = K1/4 L3/4 Find the following: a. Per worker production function. b. Steady-state capital-labor ratio as a function of d and
If the reserve bank wants to pursue a contractionary policy, what should it do?
Q. Show the analysis of cross model? We can divide our analysis of cross model into three sections: Aggregate demand. Aggregate demand is a major component of cross mo
Q. Define Nominal wages? The nominal wage is wage per unit of time in the currency used in the country- what we usually just call wage. When we mention wage in macroeconomics w
What is the impact on the economy if price ceiling or price floor were removed? Ans) Price ceiling is government system or laws setting price floors or ceilings that forbid the
You are the manager of a firm that receives revenues of $40,000 per year from product X and $90,000 per year from product Y. The own price elasticity of demand for product X is -1.
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