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problem solving
Inflation-Unemployment Trade-off under Rational Expectations : Robert Lucas (1972) pointed out another implication of the above hypothesis of adaptive expectations. Suppose in
How might governments lower the natural rate of unemployment? An easy way to organise the answer is to separate possible solutions into two broad groups; interventionist and m
Question: Explain the contribution of capital accumulation in the progress of an economy? Capital makes the technological progress of the economy possible. Different technol
In the diagrams related to bandwagon effect, why do we say when the price is 30$ the demand is 40?
cars:0,2,4,6,8 tow truck:30,27,21,12,0
would a rational producer be concerned with the average or marginal product of an input in deciding whether or not to hire the inputs?
What types of questions would concern microeconomics, versus macroeconomics? Microeconomics concerns itself with decision-making of individual consumers, firms and other organ
What is the role of profits in a market economy? Profits act as an incentive to producers and potential entrepreneurs, and also as a signal to both that resources may be re-al
leat cost factor combination
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