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what is fiscal policy?
unplandned change in inventory are coutned as investment spending by firms
What are cost and revenue relationships?
explain the terms abnormal profits and normal profits
Do neoclassical economists view prices and wages as stickly or flexible
What factors shift out the PPC and what is the opportunity cost of the economy moving out to get back on the PPC? Explain?
THE PRODUCT MARKET Z=C+I+G C=a+bYd I=Io+I1Y-I2i Equilibrium condition, Y=Z, where Y represents output and Z is aggregate spending. THE FINANCIAL MARKET Md=MT+Mp MT=MTo+MT1Y Mp=Mpo
A biologist working in the Outback of Australia is studying the effects of land-use by tourists (campers, fishers, etc.) on vegetation cover in a river gorge of the outback. There
Process to control inflation rate The belief that control of inflation must be the primary economic objective of government can be traced back to neo-liberal revolution that st
why and how is price level determined by the monetary sector in the classical model?
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