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Money facilitates market activities and is essential in complex market systems. With money people can avoid the problems associated with coincidence of wants. Between, these problems is the pricing of commodities. Prices stated in the terms of all possible trading goods makes it complex to determine what anything costs. In barter economies hours are spent in negotiating for even easy transactions, these hours are resources that could have been spent on other activities (thus the hours of negotiations are the opportunity cost of a money economy).
Why a high level of labor force growth is correlated A high level of labor force growth is correlated--even though less powerfully--with a low level of output per worker. The a
M.Phil. Admission Test, 2017 Economics Model Question Group A Domain Knowledge in Economics Correct answer is as marked in black. Micro Economics 1. Consider a utility function U =
what is histogram?
data of past 20 years regarding price, wage, employment, productivity, investment, profit or loss.
What is the purpose of the IMF and why might the IMF be called the “lender of last resort”? Discuss how three of the tools they use for establishing economic stability in a country
Briefly explain the main macroeconomic objectives of governments. Definition of macroeconomic issues Growth a) Enhance in national income per unit of time, a
What is buget line how it is calculated?
#question influence of an increase in migrant on market supply labour
Consumer Choice * Consumers choose a combination of goods which will maximize satisfaction they can attain, given the some degree of budget available to them. * The maximiz
Q. What is Corporation? A corporation is a form of business established as an independent legal entity, separate from individuals who own it. A main benefit, for owners, of thi
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