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Using a production possibilities curve, an economy that produces an output combination less than the maximum possible is depicted by a point located. a. at the top corner of the
Question 1 Discuss the relationship between microeconomics and macroeconomics Question 2 What do you understand production method? What precaution should be taken while
Your firm usually uses about 200-300 tons of steel per year. Last year, you purchased 100 tons of steel than needed (at a price of $200 per ton) In the meantime, the price of steel
List of major emerging-market economies To determine if the UK is to benefit from growth of emerging-market economies in the future, it should start exporting goods and specif
distnguish betweenNational income at market price and National Income at factor cost, explain the importance of the distinction
In an effort to provide tax relief for households while still balancing the budget, Congress votes to raise business taxes and decrease personal taxes. explain the impact of these
If income falls below its potential and the income tax rate is reduced, this will: A. raise the passive deficit but reduce the structural deficit. B. raise both the passive and str
Sims (1980) introduced an exciting and ground-breaking new framework which would prove to be extremely insightful for macroeconomic analysis. This is known as vector autoregression
What is the difference between Comparative Advantage and Absolute Advantage? Difference between Comparative Advantage and Absolute Advantage: Comparative advantage: it is
inflation of fuel price on consumer
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