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Differentiate between inflation and unemployment.
Inflation is an increase in the general price level that results in a decline in the purchasing power of money. In economics, a person who is able and eager to work yet is unable to find a paying job is considered unemployed. The unemployment rate is the number of unemployed workers separated by the total civilian labor force, which contains both the unemployed and those with jobs (all those willing and able to work for pay). In practice, calculating the number of unemployed workers actually seeking work is notoriously difficult.
Terms of Trade: The ratio of average price of a country's exports, to average price of its imports, is its terms of trade. Theoretically an improvement in a country's terms of trad
We consider two regions A and B. Each market has the same size (i.e. number of consumers) but differs in the willingness to pay for one unit of the good proposed by the firm. On ma
why does gap between the ATC curve and the AVC curve decreases as the level of output increases
I have a chemistry project which is title: "combating desertification" so I have to come up with a practical solution to stop desertification or limit the spreading of deserts.. Is
Fiat money is what is regular in modern economic systems. Fiat money is money that is described as legal tender by either a government or some organization with the authority to e
need to get assignment on income effect and substuation effect how does increase in price of both comodity will affect the or show the new effect
Question: (a) Assume a firm operates in one location but serves on two distinct markets, namely, 1 and 2. The demand functions are: Market 1: P1 = 40 - 0.3 Q1 Market 2:
what is the use of models in economics?
GIVE EXAMPLES OF EACH OLIGOPOLY MODELS FROM REAL LIFE
1. Explain what are price ceilings and price floors and how they effect the market for a good or service. Also show through graphs, if they cause any inefficiencies in a perfectly
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