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Lucas’ point of view, what are the limitations of the Keynesian model? What improvements does he suggest?
it has been argued that economic development of developing countries has been held back by a persistent fall in the terms of trade of developing countries over the long run
Private sector in the circular flow The private sector total income is known as the national income. Because private sector receives the entire return from the factors of pr
In general, economists have found that as nations' levels of per capita real Gross Domestic Product (GDP) increase, A. the rate of population growth declines. B. the rate of
Kate uses a sewing machine to alter and repair clothes for one year in her own small business, Kate's Tailoring. She earns $20,000 during the year for various sewing projects. In t
I used to think that economic growth ( more production) was only possible / able to occur because banks lent out more than they had (fractional reserve credit banking). Apparently
Determine the Gross domestic product Gross domestic product is the total value of an economy's domestic output of goods and services. Gross national product is the similar as
Q. Money market with inflation and constant money supply growth? If π M = π and π e = π, both IS- and LM-curve will be fixed. Figure: The money market with inflatio
graph the central equation of the solow model. argue that a steady state exists and that the economy will converge to this point from any initial starting capital stock
If the airline industry was an oligopoly and Qantas and Virgin could collude, what would be a dominant (Nash equilibrium strategy) that they could adopt with reference to their pri
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