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Positive and normative economics -introductiion Economic theory or analysis evolves from basic propositions about how individual human beings (or individual economic units) beh
Explain why P=MC in the short-run equilibrium of the perfectly competitive firm, whereas in the long-run equilibrium P=MC=AC.
Balance of Payments All countries have economic transactions with other countries. These consist of import and export of goods and services, official and private gifts and don
Suppose the returns of a particular group of mutual funds are normally distributed with a mean of 9.1% and a standard deviation of 5.1%. If the manager of a particular fund wants h
Q. What do you mean by Gross domestic product? Perhaps the most significant concept in macroeconomics is Gross Domestic Product (GDP): Gross Domestic Product (
Relate overnight interest rates with interest rates By controlling overnight interest rates, the central bank will affect the interest rates with longer maturity. The reason f
How is economics works with interaction of individual choices? Principles behind the interaction of individual choices: 1. There are gains through trade. • Specialization
suppose that a persons wealth is kshs. 50,000 and her yearly income is kshs. 60,000. suppose further that her money demand function is given by Md = y(0.35-i) where i= interest
Suppose the country club bills based on a sample of 4 members are: 358, 958, 665, 846. What is the standard deviation for this sample of bills? (please round your answer to 1 decim
mundell-Fleming Model
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