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Non-Accelerating-Inflation Rate of Unemployment (NAIRU): This theory is a variant of neoclassical natural rate of unemployment. As in original natural rate theory, NAIRU advocates believe that unemployment can't be reduced below a certain level without sparking a continuous acceleration in inflation. Contrasting the original natural rate theory, though, NAIRU doctrine doesn't strictly define this position as "full employment." Policy prescriptions of the natural rate and NAIRU theories are practically identical (namely, don't try to reduce unemployment through demand-side measures, however as an alternative attack unions and minimum wages to allow labour markets to function more ‘efficiently').
Pollutant Any substance, species produced either by a natural source or by human activity, which produces very adverse effect on the environment is called pollutant. Some commo
0.767 g of phosphorus and 0.650 g of chlorine were allowed to react. After the reaction was complete, all of the chlorine had been consumed, but 0.650 g of phosphorus remained. How
Consider two individuals M and F who must split 20 units of good X and 10 units of good Y. Suppose we can represent M's preference with the utility function Um =X ^2 mYm and Fs
Economics and Ethics : Morality and ethics are powerful motivations to behavior. Thouh, economists suppose that rationality is a function of demonstrable self-interest. That mean
Sally recently finished her full-time training and received certification as a nurse’s aid at the end of August. She sent out applications to prospective employers during the last
assignment
Q=10-2P,PRICE DECREASE FROM RS 3 TO 2
Risk Averse: - A person who prefers certain given income to risky income with same expected value. - A person is careful risk averse if they have a diminishing marginal ut
Clearly explain the distinction between supply, demand and equilibrium price.
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