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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?
If the MPPL/ MPPK in the production of a good are less than w/r, why is the produce not in producer equilibrium? Explain how, with no change in budget size for the firm and with th
Equilibrium in both the goods and in the money market If both the goods- and the money markets are to be in equilibrium... ...if P increases, Y must fal
REVEALED PREFERENCE APPROACH The downward slope of the demand curve was justified on the basis of utility derived by the consumer. But specification of consumer tastes in form
Filbert and Lychee have convex indifference curves. Note Filbert is indifferent between baskets (3, 2) and (4, 1)--these are x, y coordinates. Lychee is indifferent between baskets
Overnight interest rate of Central banks When the central bank buys government securities, it purchases from many individuals, companies and institutions. Deposits and reserves
what is national income
What is fixed cost and variable cost? By the Production Function to Cost Curves: A fixed cost is a cost which does not depend onto the quantity of output generated. This i
how useful is national income statistics for indicating living standards
Suppose the demand for bread is D(p), where dD/dp Illustrate equilibrium with price on the Y-axis and quantity on the X-axis in which the t > 0. Show the economic incidence
Historically, shifts toward a more expansionary monetary policy have often been associated with increases in real output. Is this surprising? Why or why not? Can an expansion in th
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