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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.
using a classical labour market , illustrate the effects of a real wage existing in the market that is lower than the equilibrium real wage. what will eventually happen in this lab
Q. Explain about IS-LM-model? The key difference between the IS-LM model and the cross model is that nominal interest rate is exogenous in cross model on the other handit is en
Consider the above table. Assuming the government imposes a price floor on garbanzo beans of $8, what would be the likely result? a. no change, equilibrium would prevail b. T
Ok... So if the price level is rising, this means that inflation is rising as well, so the value of the dollar in the US would decrease meaning that purchasing power decreases as
what does phillip curve signify? how do you reconcile the difference in the shap of the curve in the short run and the long run?
An economy shows the following features C=50+0.9(Y-T) T=100 I=100-5i G=100 L=0.2Y-10i M/P=100 X=20 M=10+0.1Y a)Obtain the IS and LM for this economy b)Find out the equilibrium inc
Should dental offices be accredited similar to the standards that hospitals are?
THE GOALS OF MACROECONOMIC POLICY Economic analysis attempts to explain why problems arise in the economy and how these problems can be dealt with. It is, therefore, indispens
1. Estimating Women's Labor Supply a. The following regression was run for an estimate of the current women's labor supply curve: Where h i = hours of labor suppl
The price will change in the market, only due to the change in demand for the product. True or false
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