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Paradox of Thrift: An individual household, governmentor business may attempt to save money by reducing their current expenditures. Though those attempts to save, once amalgamated at the level of the overall economy, may decrease aggregate spending levels and thus output and employment, hence undermining overall growth or even causing a recession. If this takes place, revenue of households, businesses, and governments will decline and overall saving may end up no higher (and possibly be even lower) than before effort to boost savings. Due to this paradox, it's not typically possible to improve economic performance by boosting saving
Elasticity of Demand This is a measure of how responsive the sales volume of goods is to changes in that product's price, equal to the marginal change in sales, divided by the
It is clear that monopsony in the labor market is not steady with allocative efficiency and has the effect of withholding significant amounts the employees' MRP from them, that bec
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Explain the Human Development Index Introduced by the UN in 1990, the index take into account not only the goods and services formed but also the ability of a population to use
Output 0 Fixed cost $100 Varaible Cost 40 what is the Total cost and Total revenue also the Profit/Loss
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