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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.
define perspective of managerial economics.
Determine the Slutsky Equation. Income-Substitution Effect: The Slutsky Equation A fall into the price of a good may have two sorts of consequences: substitution effect, whe
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how slustky equation provides neat analytical expression for substitution and income effect?
Assume the banking system contains: Total Reserves $ 80 billion Transactions Deposited $800 billion Cash held by public $1
consumer equilibrium by indiffrence curve approach
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