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The Hypothesis of Inflation-Unemployment Trade-off : This hypothesis about formation of expectations is therefore known as the hypothesis of adaptive expectations. The hypothes
INTERNATIONAL DEVELOPMENT ASSOCIATION: International Development Association (IDA) is an affiliate of the IBRD. It was established in 1960 to provide "soft loans" to economica
Economics; Different Perspective ? Economics is the knowledge of the choices taken by people who are faced with scarcity. ? Scarcity is a condition
Define the returns to scale in production technology. Returns to scale in production technology: Assume that we are using some vector of inputs x to generate some output y a
Consider the model of corruption explored by Shleifer and Vishni's where there is one government-produced good X. There is a demand for that good described by the inverse demand eq
assignment on consumer equilibrium
Why Have These Economies Converged? By and large economies which have converged are those which belong to OECD: the Organization for Economic Cooperation and Development that w
THE WORLD BANK: The World Bank is another of the 'Brettonwoods Twin Sisters'. The World Bank, as it obtains presently, is an umbrella organisation, under which five different
Explain Monetarist and Monetary policy Monetarist: A group of economists who believe that alters in the money supply are the most effective instrument of government economi
what is basing point
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