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Axiom of completeness: Consumer's choice is complete. Implication: Since consumer is rational, she must have a unique preference relation. That means the consumer choice is ei
Oil price shocks lead to large adverse supply shocks in the macroeconomy, infer Dornbusch et al (2008) who define an adverse supply shock as; ‘one that shifts the aggregate supply
economic indicators graph
Why do financial crises occur and why are they so damaging to the economy?
What are the 4 scarce, factors of production and what is a description of each of them. What are the costs to these resources?
A person chooses between leisure and consumption. All of their consumption comes from current income. The utility derived from any combination of leisure and consumption is given b
Prepare an essay regarding the concept of maximization and the assumptions associated with the behavior of the economic man.
Fixed versus floating exchange rates: To begin with, we will briefly review the balance of payments (BOP) table of a nation that you studied in the course on international eco
Benefits of Regional Integration Most economic experts cite that regional integration permits disadvantaged countries to realize economies of scale, vie on a broader (often gl
What is the difference between money multiplier and credit multiplier
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