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With the aim of this project to observe the impact of oil price shocks on macroeconomic indicators, testing for causality between these variables will establish whether or not, oil price changes explain changes in other variables. To carry this out, the VAR/Block Exogeneity Granger Causality Test will be performed. This test will estimate whether the oil price variables will Granger cause the remaining variables in the equation. This is achieved by analysing the p statistic at the relevant significance level. In addition to this, pairwise Granger Causality tests will be estimated. This is when each variable is tested purely against another to see whether one directly Granger causes the other.
Question: Using diagrams where appropriate, describe the concepts of scarcity, choice and opportunity cost. Distinguish between negative and positive externalities, explain
Suppose that the desired capital stock is given as: K* = 0.3Y/i r Where Y = GDP, and i r is the real interest rate. Suppose further that Y = $5 trillion and that i r
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Based on the recent success of Ontario tennis star Milos Raonic, Nike Canadawill produce new state of the art tennis racket with a red maple leaf on the strings. Mike expects to se
WHAT ARE THE SOURCES OF MONOPOLY
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discuss Haberler''s opportunity cost doctrine.
what happens when there is changes in the quantity supply?
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