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The Hypothesis of Rational Expectations : In the General Theory (Keynes, 1936) we noted that the state of expectations was taken as given. There was, in addition, explici
state 3 major assumptions which a production posibility is based
#quUse a graphical illustration to describe briefly what the influence of each of the following would be on the market supply of labor:(a) an increase in immigration (b) more women
Inflation is defined as
What are the three approaches to measuring GDP? The three approaches are: a) The production approach, b) The spending approach and c) The income approach.
A Period of Transition and Improvement: These few years stand out as the golden years for India's BOP. India had a small current account surplus (0.6 per cent of the GDP on an
function with equation,variable,parameter
Perfect competition: The behaviours of firms in perfect competition. It should be noted that firms that fit into perfect competition model are very rare in real-life situation
Explain the factors which would affect the price of a good. As there is a very long list of determinants, the basic issue is for the student to describe and illustrate how shif
On what kind of income is our taxing system based?
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