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Expectations played a major role in Keynes' theory of the determination of aggregat output and employment in market economies in the short run. Expectations about future yields on investment projects underlie 'the marginal efficiency of capital' schedule However, the volatile nature of these expectations plays a major role in explaining why investment expenditure and therefore output and employment in miarket econornies are subject to fluctuations.
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Closesubstitute goods: The number of closesubstitute goods The more substitutes of good has and the more close the substitutes are, the more elastic the demand for the good. Fo
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Explanation
Prove that utility approach and indifference curve yield the same consumer equilibrium
Is economic development is based on goverment Many governments--mainly unelected governments-aren't that interested in economic development. Giving valuable industrial franchis
Relatiön between TC ,TFC and TVC
Employment The calculations of human input in the production procedure. In the United States, there are two major measures of employment, as determined by the Bureau of Labor
The price elasticity of demand is how economists calculate the responsiveness of consumers to alters in prices for a commodity. In other words, as price enhances (reduces), the qu
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