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Explain how the price system eliminates a surplus.
The meaning of surplus is that quantity demanded is less as compared to the quantity supplied. This will lead to downward pressure on price. Since price falls, quantity demanded rises and quantity supplied falls. This will carry on until quantity demanded is equal to quantity supplied.
Assume that the employer (principle) wants its employee (agent) to work hard [You can safely assume that this maximizes the principle's expected profits from his business]. There a
4) The prevention of major swings in economic activity can be handled most easily by the A. household sector B. business sector C. financial sector
1. Suppose the banking system has reserve of $750000, demand deposits of $2500000 and a reserve requirement of 20%. a. if the fed now purchases $125,000 worth of govt bonds from t
what is histogram?
explain how macro and micro issues may be represented using production possibility curve
Comment on the current account trend since 2013 till 2015
electron configurations
two or more variable inputs
Ask questiowhat are the importance of the branches of economics
Average product and marginal product: Average product (AP) is the output per unit of the variable factor employed. In other words, it is the productivity of the variable facto
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