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Explain what the phrase “price rationing” means.Price rationing is the method by which the market system assigns goods and services to consumers while quantity demanded exceeds quantity supplied.
NEW CLASSICAL BUSINES CYCLE THOERY: Yang, Xioaokai, Economics: New Classical versus Neoclassical Frameworks, Oxford: Blackwell Publishers. The book goes on to rigorously dev
Derivation Of Ordinary Demand Function: Suppose, and q 1 = (Q 1 1 , Q 2 1 ,..., Q n 1 )T. Let M0 be the money income and p 0 q 0 = M 0 and p 0 q 0 ≥ p 0 q 1 , where p
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In year one, suppose the federal government has no national debt and spends $100 billion, while raising only $50 billion in taxes. The U.S. Treasury will issue $ billion of governm
Calculate the price elasticity of demand or supply for the following function when P=8 p=6(I)p=40-0.5q
How economic theory explain optimum pattern of consumption for an individual consumer
In an essay of at least four well-developed paragraphs, discuss U.S. economic policy. Be sure to include the following information in your essay: Compare and contrast the economi
given short run total cost curve :10q^2+4q=100 and short run marginal cost MC=20q+4 and market demand Q=100-p what''s the equation of the short run supply curve?
Why is human capital so important in the development process? Explain human capital in terms of (the sum of) education/training/experience/ literacy etc, and clearly show how t
Organic biochemistry is really as well as biochemistry. This is because the as well as atom is the central source of all existing creature's substances. 8 protons and 8 electro
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