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Consider the following prisoners' dilemma game. C D C 4,4 0,6 D 6,0 1,1
Which of the following is a reason why the aggregate demand curve slopes downward? a. At a higher price level, fewer goods and services are available. b. Periods when the price lev
Neo-classical synthesis is a synthesis of classical model and Keynesian model. In brief, it states that Keynesian model is correct in the short run whereas the classical analysis i
discus the various measures that may be taken by a firm to counteract the evil effect of a trade cycle
Relationship between the interest rate and the bond price Note that the higher the issue price, the lower the interest rate. In the same way, when the price of a government bon
Suppose that 70% of people who identify themselves as an "Independent" voter end up voting for a Republican candidate. What is the probability that out of 120 "independent" voters
Read "How Did Economists Get It So Wrong" by Paul Krugman and second, the blog "History of Economics Playground", by Pedro Duarte, Tiago Mata, Clement Levallois, Yann Grd...etc., t
It is sometimes asked whether credit cards are money since many purchases are made using these. Credit cards are a means of obtaining credit and using this to finance expenditure,
which turning point marks the end of an economic prosperity and the start pf contraction
Private sector in the circular flow The private sector total income is known as the national income. Because private sector receives the entire return from the factors of pr
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