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Supply of labor, L S (W/P), depends positively on real wages in classical model. It isn't always clear which individuals are included in the labor supply. Labor supply may consist
Subsidy programs are likely to have a number of secondary effects in addition to the direct effect on dairy prices. What impact do you suppose farm subsidies are likely to have on
An electronic chip is to be implanted in the body. During in vitro (in the lab) testing it is observed that the chip will dissolve over time if exposed to liquid with similar pH to
Why are Economic Models uses for Trade-offs and Trade? Simplified representations of actuality a. production possibility frontier b. comparative advantage c. circular-
explain how national income is determined under the following economies; 1.frugal economy 2.governed economy
Explain the meaning of a production possibilities curve
Granting a loan: When commercial banks lend, they create money. This can be explained by extending the hypothetical example of Bank
Determine the example of Currency inside banks is not money An example may also illustrate this important fact: Eric has 100 euro - this amount is obviously part of the
Monetarism This school argues that disturbances within the monetary sector are the principal causes of instability in the economy. According to monetarists, the money supply i
In the long run, imports will most likely be paid for with: a. Aexports. b. The sale of real and financial assets. c. the extension of credit. d. higher domestic unempl
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