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What are the differences between the IS-LM model and the Keynesian model? The 'simple' Keynesian model is a simplified model to exemplify Keynes's idea about the equilibrium i
Dynamic Changes in Costs: The Learning Curve * The learning curve measures impact of worker's experience on costs of production. * It describes relationship between a firm
Axioms: Revealed preference theory is based on the axioms listed below. • Consumer will spend all her income on goods. The consumer equilibrium always remains on the budg
Consider a non-renewable resource. There are two periods, now and later. The demand curve in each period (t = 1, 2) is Qt = 10 - Pt. The stock of the resource is 10 units. Extracti
Neutrality: Bureaucracy is apolitical and neutral. Prof. Frocderich mentions the following features of bureaucracy: (i) differentiation of functions, (ii) qualifications for o
#question.explain three neccessary condition to achieve pareto efficiency.
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politicians are often heard saying that tuition at state universities should be kept low to make equation equally accessible to all residents of the state, regardless of income
Q. Role of Monetary Policy? Monetary Policy: Monetary policy reflects the use by government and government agencies (mainly the central bank) of interest rate adjustments and o
difference between the cardinal analysis theory and ordinal theory
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