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Explain about the circular-flow of economic activities.
Circular-Flow of Economic Activities:
Economic Agents:
a. Households
b. Firms
Where they interact:
a. Markets for goods and services
b. Markets for factors of production
If population growth is greater than the growth of real output, A. real per capita Gross Domestic Product (GDP) growth will be less than the growth of real Gross Domestic Product
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What are cost and revenue relationships?
The Pigou effect: A) suggests that as prices fall and real money balances rise, consumers should feel less wealthy and spend less. B) suggests that as prices fall and real mo
full oligopoly chapter
A few years ago, the Federal Communications Commission (FCC) eliminated a rule that required Baby Bells to provide rivals access and discounted rates to current broadband facilitie
what is keynesian model
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