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Positive and normative economics -introductiion Economic theory or analysis evolves from basic propositions about how individual human beings (or individual economic units) beh
Suppose the country club bills based on a sample of 4 members are: 358, 958, 665, 846. What is the standard deviation for this sample of bills? (please round your answer to 1 decim
What are economic growth and the growth rate? Economic grow: It rise in a country is real level of national output like measured through Gross Domestic Product (GDP). Wh
The Australian government administers two programs that affect the market for cigarettes. First, media campaigns and labelling requirements aimed at making public aware of the dan
Suppose that Ana is buying only 2 goods: good 1 and 2. If the price of good 1 doubles and the price of good 2 drops by one third, then what happens with the budget constraint? (Ass
What are the differences between perfect competition and monopoly competition? Ans) In a monopoly, you are gaining an unfair benefit over any competition because you own so many
Q. Describe about Capital? By capital we characteristically mean manufactured goods which are used to produce other services and goods though aren't used up in the production p
If there are economies of scope and if the price for each product equals marginal cost, is it possible for a firm to cover all its costs? If the firm's average cost of production d
Define the term- inflation Inflation between two points in time is defined as the percentage increase of price index between these two points in time.
Question 1: Discuss why living standards are higher in some countries than others. Question 2: (a) How is inflation measured? (b) What are the causes and consequence
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