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what are the values of real money supply and the current price level
Much of undergraduate macroeconomic theory is discussed on the assumption that, in the short run, the expectations of economic agents about the future values of macroeconomic varia
Q. What do you meant by Enclosures? Enclosures: A historic process in Britain and other European countries, in very early years of capitalism, in that lands formerly held and u
How can we identify that something is elastic or inelastic? When demand of any commodity does not change with the change in price of that commodity that item is said by inelas
Population census: A population census is the head count of people living in a geographical area or in a country. A population census collects comprehensive data on people to
Could I have examples of syndicated and organized oligopolies with companies as examples
Qustions: You are the sales manager at SoftSystem, a dominant firm that produces operating system. The new operating system, Doors XR, has been newly developed. Its demand is e
RATIONAL EXPECTATIONS AND ECONOMIC THEORY : We assumed above that the role of economic theory is not to provide quantitative predictions about the future. Suppose we assume ins
Consider a two-period economy with a single commodity (say leisure): x1 is the con- sumption of leisure in period 1, and x2 is the consumption of leisure in period 2. When Peter ev
A " properly mixed strategy " means a mixed strategy that does not assign all the probability to one pure strategy. In other words, it is not a pure strategy. Consider a simultaneo
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