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Use the following general linear demand relation: Qd = 680 - 9P + 0.006M - 4PR where M is income and PR is the price of a related good, R. If M = $15,000 and PR = $20 and the supply function is Qs= 30 + 3P, equilibrium price and quantity are, respectively,A) P = $55 and Q = 195. P= $6 and Q = 38. P = $12 and Q = 200. P= $50 and Q = 170. P = $40 and Q = 250.
If the Banking system has $500,000 in demand deposit liabilities, $125,000 in total reserves and a reserve requirement of 15%: What is the maximum amount by which the money supply
A recent study of long distance phone calls made from WPU, showed that the length of the calls follows the normal probability distribution with a mean of 3.2 minutes per call and a
Tennis-Warehouse recently conducted a study of long distance phone calls made by its employees. The study showed that the length of the calls has a mean of 3.2 minutes, a standard
what is the difference between classical and non-classical model
Explain the multiplier effect with example Deposits and loans in banks give rise to an important multiplier effect. We use a simple example to illustrate this effect. Consider
Over long spans of time, macroeconomies typically grow, but over short spans there are fluctuations in output and prices known as ____ ?
Can you think of examples where the government does not intervene enough when it comes to consumer safety and product information? Examples where too much intervention is the case
Tariff Reform: India's customs tariff rates have been declining since 1991. The "peak" rate came down from 150 percent in 1991-92 to 40 percent in 1997-98. The downward mom
ISSUES RELATED TO BALANCE OF PAYMENTS: It is to be remembered that the Indian economy witnessed varying intensities of BOP problem during 1956-9 1. However over the 1990s,
2. Given the following information: Consumers are very optimistic about the future. The price of oil has just doubled. The money supply is growing at a 6% rate. The government has
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