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Explain about a model and use of it in economics.
A model is a simplified demonstration of a real situation which is used to better understand real-life circumstances.
The production possibility frontier (PPF) demonstrates the trade-offs facing an economy which produces only two goods. This demonstrates the maximum quantity of one good which can be produced for any specified production of the other.
The demand equation for champagne is given by P = 10 - Q. The supply schedule for champagne is given by P = Q. Note that P denotes price per bottle in dollars, and Q is quantity me
Explain the pre-emptive monetary policy Since 1992 UK monetary policy has been 'pre-emptive'. In pre-emptive monetary policy authorities announce that they are prepared to rai
In order to estimate aVAR, alag length must be used in the estimation. There are many different criteria which can be used to signal the ideal lag length to use.Asteriou & Hall (20
can u please tell me why lag length criteria is used during estimation of VAR model? what is the purpose of lag length criteria and how it can be interpreted?
If the reserve bank wants to pursue a contractionary policy, what should it do?
Why is it important for policymakers to consider both the direct and indirect effects of public policies?
give three example of models show endogenous and exogenous varibles
The following Table B presents the 2010 population, employment, and unemployment data among working age persons for several countries. a. Calculate the number of people in the l
DIFFICULTIES IN MEASURING THE NATIONAL INCOME There are some conceptual and statistical problems in measuring national product. Some items are excluded from the national incom
# ???? .. difference between gdp at market price and nnp at factor cost
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