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Marginal cost curves generally slope:
a) downward because of decreasing opportunity cost b) upward because of decreasing opportunity cost c) downward because of increasing opportunity cost d) upward because of increasing opportunity cost
State about the Other interest rates There are many other interest rates in a society. For example, you will earn interest when you deposit money in a bank account and you will
The aggregate production function Definition Imagine the national economy during a short period of time (say one week). We refer: L: total amount of work used duri
TRADE AND DEVELOPMENT: In the earlier Units of this block, you have learnt about the trade policy from historical perspective and the recent shift in policy during nineties. Y
If Starbucks's marketing department estimates the income elasticity of demand for its coffee to be 2.9, how will the prospect of an economic bust (expected to decrease consumers' i
A recent study in NJ showed that 50% of all patients will return to the same dentist. Suppose nine patients are selected at random, what is the probability that: (a) exactly five o
Gas Guzzler Motors is one of three major auto producers. It is currently producing 6,000 cars a day, and selling them at a price of $10,000 each. Its marketing department tells it
This is an examination of costs and revenue to explain whether a venture will make a profit. This is significant information in deciding on whether to make an investment. The lengt
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
What was Real GDP for 2009? What does GDP tell us? How did GDP change from 2008? What caused these changes? What was GNP for 2009? What is the difference between GDP and GNP?
If population growth is greater than the growth of real output, A. real per capita Gross Domestic Product (GDP) growth will be less than the growth of real Gross Domestic Product
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