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As it turns out, there is little evidence to support a direct causation between income and children. (If I am poor, then I will decide to have a lot of children? Alternatively: I have a lot of children therefore I am poor financially?) In reality, there is an *omitted variable* that has a direct effect on both income and the number of children in a household. What do you think this omitted variable is?
Relate Overnight interest rates targets with money supply There are many ways to explain the important connection between the overnight interest rate target and the money suppl
During the 1990s, technological advance reduced the cost of computer chips. Explain, with the use of supply and demand diagrams, how the following markets are affected in terms of
explain circular flow of income in an open economy
Problem 1 a. Define ERP. Explain the terminology related to ERP. b. How ERP evolved in a system? a. Definition. >>Description on point of sale, MRP-I, MRP-I
assuming that B=0.33 Y1998=[0.33]Y1998 Estimate the permanent income for 1998
What is the difference between merchantilism and absolute theory?
If population growth carry on then there will not be sufficient resources around for everyone this will lead to an event such as famine / war, which will decrease the population.
Example of Introducing the Government- ACCOUNTING SYSTEM So far there was no government in any of our stylized economies. Let us now introduce it. To begin with, our governmen
Q1. The poorest countries in the world have a per capita income of about $600 today. We can reasonably assume that it is nearly impossible to live on an income below half this leve
What factors find out the price elasticity of demand? Factors which determine the price elasticity of demand are: a. Whether close substitutes are accessible b. Whether t
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