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Some countries that supply oil to petrol manufacturers are located in or near the Middle East, others are not located in or near the Middle East.
(i) Does the war benefit or harm countries located in or near the Middle East if they are directly involved in the war?
(ii) Does the war benefit or harm countries located in or near the Middle East if they are not directly involved in the war?
(iii) Does the war benefit or harm countries located outside the Middle East?
Using a production possibilities curve, an economy that produces an output combination less than the maximum possible is depicted by a point located. a. at the top corner of the
I. Consider the following static optimization problem. Suppose that a consumer has financial wealth W and owns the house H¯ . She has utility over housing H and nonhousing co
ORDINAL THEORY: INDIFFERENCE CURVE APPROACH In indifference curve approach consumer is assumed to be rational, so that consumer's objective is to maximise her utility by choos
Question 1: Consider a closed economy with no government sector in which consumption (C) is related to income (Y) by the equation: C = A + bY (a) What is the marginal pr
PREPARE AN ESSAY ON THE CONCEPT OF MAXIMIZATION AND THE ASSUMPTIONS ASSOCIATED WITH THE BEHAVIOR OF THE ECONOMIC MAN
#questionAssume that an economy''s GDP Y=5000. Also assume that the government runs a deficit where tax revenue T=1000 and government expendituresG= 1500. The consumption function
What was Real GDP for 2009? What does GDP tell us? How did GDP change from 2008? What caused these changes? What was GNP for 2009? What is the difference between GDP and GNP?
Consider the following: "The physiocrats spoke of the natural order and favored laissez-faire yet strongly supported the absolute authority of the monarchy." Analyze this supposed
Given a four sector economy how do you find the budget balanced
In order to estimate the VAR, I have firstly to specify the data which will be analysed. As it is my aim to observe the correlations between oil prices and key macroeconomic variab
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