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Mathematical Presentation: Consider the utility function U = U(x 1 , x 2 ). Differentiating totally, we get the following: dU = U 1 dx 1 + U 2 dx 2 = 0 (as along the indiffe
why and how is price level determined by the monetary sector in the classical model?
the suitability of utilising a policy of tariffs and quotas given the case of perfect competition.
a complete demend funtion equation
RATCHET EFFECT
Neo-classical synthesis is a synthesis of classical model and Keynesian model. In brief, it states that Keynesian model is correct in the short run whereas the classical analysis i
Question 1 Consider an investor who has the von Neumann-Morgenstern utility index u(x ) = 3 + 4√ x An investment provides income according to two possible future scenari
Why do some countries have a high real per capita income? High standard of living within the industrialized nations consider to be largely because of the high productivity of
What is most likely to go wrong in the analysis of direct material and other direct costs and what could be done about it.
Consider a nation in which the volume of goods and services is growing by 5 percent per year. If a country's economic size is growing faster than the rest of the world, then
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