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Explain the difference between productive and allocative ( economic ) efficiency.
Government revenue, government spending and net exports G, NT and NX are exogenous variables in the classical model In the classical model (and
1. Which function of money is disrupted as a result of high inflation? Why? 2. The central bank of Fiji has issued $1,000,000 in Fijian dollars. What is the size of m
What factors find out the price elasticity of demand? Factors which determine the price elasticity of demand are: a. Whether close substitutes are accessible b. Whether t
For each of the host countries you have selected for examination (PEST-C analysis), conduct a preliminary assessment of the geographic, economic, social-cultural, and political-leg
Individual A has UA(XA,YA)=lnXA+2YA and has $500. PX=5 and PY =10. (a) Find the optimum. Show that it is indeed the maximum. (b) PX=10. Find the new optimum. (c) Calculate
The analysis of the speculative demand for money reveals the importance of the level of wealth. Explain this assertion in detail
Determine the example of Currency inside banks is not money An example may also illustrate this important fact: Eric has 100 euro - this amount is obviously part of the
how does economy works?
definition, argument to protectionism and argument against protectionisms
What is the different between price effect and sales effect? Both relate to Elasticity and Total Revenue: a. A price effect: After a price raise, all unit sold sells at a hi
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