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What are the "three basic economic questions" that economists often address when examining how much economic output is formed? The three basic questions are: a) what is prod
is south african economic system more allocative efficient?
Differentiate between real and nominal variables. In economics, the distinction among nominal and real numbers is often made. Nominal variables -- like nominal wages, interest
what is consumer''s choice involving risk.preference toward risk.
1). Define and explain the concept of an externality. Provide examples of both positive and a negative externality. 2). The Prisoner's Dilemma Exercise:
how measure the inflation
Explain the link between the rate of interest and inflation. Interest can be explained as the price of money - more expensive money will lead to few loans, higher saving and as
MUa/MUb how it happens? and why this occur?
why is the point outside the production possibility curve(PPC)called unttianable
baumol''s theory
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