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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
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1. Econ 415 Project Select one time series of real data. The series can be selected from the published data ( http://research.stlouisfed.org/fred2/). The data series must co
#question.what is elasticity of demand? .
When is the economic theory useless? One misunderstanding is to under-estimate the role of an economic theory. Several people thought an economic theory useless since they thin
Member's Quota in IMF Quota represents the subscription by a member country to the capital fund of the IMF. Quotas are fixed for each country, taking into account such factor
Production without capital is hard for us even to imagine. Nature cannot furnish goods and materials to man unless he has the tools and machinery for mining farming forestry fishin
How might governments lower the natural rate of unemployment? An easy way to organise the answer is to separate possible solutions into two broad groups; interventionist and m
what is linear programming
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discuss how economic theory explains the optimum pattern of consumption of an individual consumer
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