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keynsian cross model
1. Refer to the data in the file "asm2Q1.xls" on the annual number of fatalities (FATALS, y ) from gas and dust explosion in coal mines for the years 1915 to 1978 and the number o
Division of labour: Division of labour involves dividing a production process into a number of smaller tasks for each task to be undertaken by a different worker. It may also be
Uses and Habit Forming Commodity -price elasticity of demand: The number of possible uses : A commodity has high price elasticity of demand (or elastic demand) if it can be p
International trade: International trade refers to the exchange of goods and services between countries. Goods sold to other countries are referred to as exports and goods bou
Labor Total Output 1 30 2 50 3 60 4 75 5 80 a) If the price of the firm’s output is $12 per unit and the wage rate is $100 per worker, how many workers should the firm choose to
explain how macro and micro issues may be represented using production possibility curve
Will Governments Follow Good Policies? That governments can assist in development and growth doesn't mean that governments will. The broad experience of growth in developing ec
Rational Expectations- Inflation Unemployment Trade-off : Now, consider what happens if we suppose that workers have rational expectations about the rate of inflation First, th
1)The productive capability of an economy is such that to produce 5 units of military good it takes 2 workers to be employed while 10 units of consumer goods require 3 workers. Res
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