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defination
Q. Explain function of AS-AD model? The function of AS-AD model is to extend IS-LM model so that we can analyze situations where Y > Y OPT . To achieve this, we should make P e
Q. What is Inflation? Inflation between two points in time is defined as percentage increase of price index between these two points in time. Comments: Price inde
If Starbucks's marketing department estimates the income elasticity of demand for its coffee to be 2.9, how will the prospect of an economic bust (expected to decrease consumers' i
Assume in country-A Central Bank cares only about keeping the price level stable & in country-B, its central bank cares only about keeping output & employment at their natural rate
explain the terms abnormal profits and normal profits
The circular flow of income in a closed economy A closed economy exists when there is no international trade. We shall also assume that in this particular closed economy there
The Concept of Growth and Growth Rate is explained below: Economic growth is rise in an economy’s level of the production of commodities, output or income. We can talk about th
example on the calculation of IS LM Curve?
Use the following data on a firm's total cost schedules to calculate its average variable cost, average fixed cost, average total cost, and marginal cost schedules. Output Total
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