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to what extent are interest rates determined by the economic theory
can average labor productivity fall even though total output is rising
Think of the Golden Ball game. Now player 1 is money-minded and jealous, and player 2 is very good-hearted, so the payoff matrix is follows: Playe
an introduction
why risk averse consumers pay premium for insurance to convert an uncertain outcome to a certain one?
Location of industry and localization of industry: Location of industry tries to answer the key economic question "where to produce". It involves deciding on the area that an
the short run can be defined as any period of time
#q The price of a laptop increases by 20% and there is a 40% drop in the quantity demanded. • The price of a pack of cigarettes increases by 10% and there is a 5% drop in the quan
Substitution Effect - The substitution effect is change in an item's consumption associated with the change in the price of the item, level of utility held constant. - Wh
brief explain of keynesian consumption theory
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