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Long Waves: Longer-term periods of stagnation or growth in the economy, that can last for a decade or more and reflect broader changes in technology, politics, and international relations. For illustration, most developed capitalist countries experienced a long wave of economic expansion after World War II (the ‘Golden Age'), followed by a long period of stagnation during 1980s and 1990s.
what is fixed and variable inputs with more explanation
Advocacy of Globalisation: In support of the movement for globalisation, the following arguments are put forth: i) Globalisation promotes foreign direct investment and, thu
1. Suppose the wage rate is w = 1. An agent is working 6 hours per day and consumes 5 units of goods per day. Suppose that the agent claims to be indifferent between his current
Wholemark is an Internet order business that sells one popular New Year greeting card once a year. The cost of the paper on which the card is printed is $0.50 per card, and the cos
Price | Quantity demanded _________________________ 0 250 50 200 100 150 150 100 200 50 250 0 A) Calculate Lorie''s profit-maximizing output, price, and economic profit. B) Do yo
How is consumer utility calculated?
# 1 Question: Consider a competitive market for Berries. The market demand for the berries is Qd=50-P (Qd is the quantity demanded (cartons) and P is the price in $. The market sup
What is law of combination
The price of petrol fell during the past year. a. Explain why the law of demand applies to petrol just as it does to all other goods and services. b. Explain how the substitu
Show the possible outcome of setting a minimum wage for under-eighteens. Explaining and illustration of minimum wage - clearly set above market equilibrium outlining res
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