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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.
What is the meaning of Deindustrialisation Deindustrialisation or structural decline of many manufacturing industries along with activities like coal mining is associated with
Q. What do you mean by Capital Flows? With free capital flows, this is a very unreasonable assumption. If we domestic interest rate increase against the foreign interest rates,
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
You should now find a press release from the Board of Governors of the Federal Reserve System, dated December 16, 2009, which discusses the decisions of the Federal Open Market Com
The price will change in the market, only due to the change in demand for the product. True or false
what is the importance of the quantity theory of money
Question 1: "Motivation denotes to the degree of readiness of an organism to pursue some designated goal and implies the evaluation of the nature and locus of the forces, inclu
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
The supply equation for widgets is P = 100 + 10QS. The elasticity of supply between quantity supplied of 9 and 11?
Why is it important for an organization to study and understand its external environment?
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