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How is economics works with interaction of individual choices?
Principles behind the interaction of individual choices:
1. There are gains through trade.
• Specialization
• Trade and gains from trade
2. Markets shift toward equilibrium.
3. Resources must be used as efficiently as possible to attain society’s goals.
• Efficiency
• Equity
4. Markets generally lead to efficiency.
Exceptions: Market failure
5. While markets don’t attain efficiency, government intervention can enhance society’s welfare.
Debate between New Classical and New Keynesian economics?
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can you tell me how this works, i am struggling to write my report in economics and i would like to know how much does it cost some help
Which of the following will decrease the nominal deficit? A. An increase in taxes. B. An increase in the debt. C. An increase in government expenditures. D. An increase in interest
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