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Q. Explain the Leibenstein model? Leibenstein (1966) sees a firm's norms or conventions, dependent on its history of management initiatives, labour relations and other factors
The Determination of the Value Money Since money is primarily a medium of exchange, the value of money means what money will buy. If at one time a certain amount of money
Dynamics of Unemployment and Real Wages through Productivity Shocks The model that you are studying here is in the tradition of the real business cycle theory th
howw much should the firm produce to maximize its profits
what is international pricing method?
Shifts in demand curve Shifts in the demand curve are brought about by the changes in factors like taste, prices of other related commodities, income etc other than the price
features of monopoly?
Disposable Income This is the income which households actually have available to spend or to save. To calculate disposal income, which is indicated by Ya, the statistician mu
Advantages of Perfect Market It achieves, subject to certain conditions, an allocation of resources which is: socially optimal" or "economically efficient" or "pareto effi
Problem 1: (a) Distinguish between political and partisan monetary cycles on inflation and unemployment rates. (b) In the rule versus discretion literature, explain how dy
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