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Determinants of balance of payments: Broadly speaking, trend behaviour of merchandise exports and imports along with their terms of trade, net invisible earnings and autono
derive balance of payment line graphically
Neo-classical thinking on growth: Neo-classical thinking on growth is owed to the Robert Solow whose exogenous growth models in the of the mid-20th century remained
Oligopoly is a marketplace where the deliver is controlled by a small group of companies. In this condition, the actions of single company will have a material effect on the whole
Perfect Competition. a. What does it mean for a market to be perfectly competitive? What are the three conditions of perfect competition. What does it mean for firms to be 'p
1. # of sellers, # of buyers 2. entry and exit conditions 3. product characteristics 4. short run P&Q determinations and the resulting 3 possibilities for excess profit (graphs ar
discuss how opportunity cost principles influences a supplier''s decision to supply labor
Diagramatic explanation of pareto optimality
Suppose that quantity demand falls by 30% as a result of a 5% increase in price. What would be the price elasticity of demand for this good?
The graph shows that if policymakers respond immediately to an oil price shock by stimulating aggregate demand, shifting AD to AD* then the level of output will remain constant. Th
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