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How price level rises differ from price rises
In macroeconomics, it's common to use term "prices" or "price" as short for price level. Expression "prices rise" must be interpreted as "price level rises" - it doesn't mean that all prices rise.
Q. Classical model and the long-term Phillips curve? In classical model, L and real wage are determined from equilibrium conditions in the labor market. L and W/P, hence, are o
using the ppf model explain the principles of economics of allocative efficiency
#questionKeynes liquidity Preference theory stipulates that money demand is negatively related to current income and positively related to interest rate..
if a 10% decrease in the price of product A brings about a 3% increase in the sales of product B, then a. product A and B are complementary b. the cross elasticity of demand
what is phillips curve
Q. Define the Prices and price level? Prices are of great significance in macroeconomics as undeniably they are in microeconomics. Though in microeconomics we are more interest
Find the Equilibrium Quantity In a small town only two candy shops operate and they compete with each other in quantity. Consumers do not differentiate between candies sold by
Are there any current subsidy or welfare issues that are being discussed or addressed in parliament or in municipalities
how does government regulate externalies
x=40-0.2p where x=x1+x2 c1=50+2x1+0.5x1 c2=100+10x2
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