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Explain about economic cycle
The economic cycle is a period of approximately 6 or 7 years in which the economy completes a cycle of downturn, recovery, recession, and boom. A peak and a trough are further features of the cycle.
Marginal cost curves generally slope: a) downward because of decreasing opportunity cost b) upward because of decreasing opportunity cost c) downward because of increasing opp
There are three firms in an economy: A, B, and C. Firm A buys $450 worth of goods from firm B and $260 worth of goods from firm C, and produces 260 units of output, which it sells
What is Purchasing power One problem in using exchange rate when comparing GDP per capita between countries is that is fluctuates quite a lot. A way of avoiding dependence on
Determine the Problems evolved with Consumer Price Index To illustrate problems involved in calculating CPI we consider MP3 players. If you measure average price of MP3 players
Which of the following is considered when calculating a country's balance of payments? Military expenditures state unemployment domestic inflation rates foreign inflation rates.
What are forms of price floors to lead inefficiency? Price floors frequently lead to ineffectiveness in the forms of: a. Inefficient allocation of sales in between sellers
If rice production is land intensive and computer production is labor intensive, though both good require some land and labor, the two-good production possibilities frontier will c
1. Given the following production function: Y = K1/4 L3/4 Find the following: a. Per worker production function. b. Steady-state capital-labor ratio as a function of d and
This is a maple assignment, but it is also a research assignment. You will have to consult earlier worksheets, textbooks, and perhaps the internet to answer some of these questio
1) Consumption is positively related to stock market wealth but negatively related to taxes and tax rates.
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