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Suppose that Ana is buying only 2 goods: good 1 and 2. If the price of good 1 doubles and the price of good 2 drops by one third, then what happens with the budget constraint? (Ass
What do you mean by Gross Domestic Product? Gross Domestic Product (GDP): It measures the value of economic activity which is output produced, into the geographical bound
What are the 4 scarce, factors of production and what is a description of each of them. What are the costs to these resources?
Debate between New Classical and New Keynesian economics?
Suppose that the demand curve for apples is given by Qd = 140 - 5P, where Qd is the number of pounds demanded per year and p is the price per pound. The supply of apples can be de
How are individual makes choices? Fundamental principles behind the individual choices are as follows: 1. Resources are scarce . 2. The real cost of anything is what y
Q. Relationship between number of hours worked and unemployment? In all models we presume a negative relationship between number of hours worked and unemployment. If number of
Explain the facts or economics rate Boom: The period leading up to the peak of the cycle when an overheating economy is experiencing high GDP growth and inflationary pressures
What is the relationship between quality, consumption and demand for health care services?
Explain how a Fortune 500 company has been able to implement SAP to improve their processes. Suppose the supply function for product X is given by Qsx = -50 + 0.5Px - 5Pz. A.
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