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Firms in the circular flow
We divide all firms into 3 categories: FR comprises all firms which acquire raw material (farm products, iron ore and so on), FH all those that produce semi-manufactured goods (pulp, steel and so on) and FF all firms producing finished goods (cars, software and so on). We use symbol Y for GDP.
y=vk ?k=s*f(k)-(?+n)k saving rate 28% population growth of 1% Have y persistent size s, n, g and ?function
explain the neo-classical theory of trade and show the difference between this and the classical approach, as wellas the similarities
different determinants of propensity to consume
It is reported that 16% of American households use a cell phone exclusively for their telephone service. In a sample of eight households, find the probability that: A) None use a c
Give a brief description of the transmission mechanism 1. When the central bank target rate increases, other interest rates in the economy will increase (and the money supply
using the marginal utility theory explain the consumption patten of consumers
The Concept of Growth and Growth Rate is explained below: Economic growth is rise in an economy’s level of the production of commodities, output or income. We can talk about th
Do you think that public administrators should be restricted to only laid down rules in the discharge of their duties as espoused by Max Weber or should they have some amount of di
The Price ceiling is the law that sets a maximum price below the equilibrium market price, but a price floor is the law that sets a maximum price above the market equilibrium price
The AS curve Say that nominal wage in year 1 (at a particular point in time) is equal to 1000. On the horizontal part of response curve, real wage is constant and equal to its
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