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Economic Cycle The economic cycle is the long-standing sample of alternating times of economic growth (expansion) and decline (recession), followed by changing economic indica
If Kansas can formed either 400 tons of wheat or 100 tons of corn and Nebraska can formed 300 tons of corn or 200 tons of wheat then it makes sense for the two states to specialize
Assume that John has the following preference relation over two goods, bread and bear (x1, x2). He strictly prefers any bundle x over y whenever x haves more bear than y, whatever
under which market structure does the banking sector fall?
Is it true to say that inflation can only sustain with the increase in money supply? Inflation can only be sustained if there is a persistent enhance in money supply. If there
Fiat money is not a new idea. Some European historians recognize the first use of fiat money in Europe resulting from gold and silver smiths issuing their customers receipts for g
Since 1990, real income has increased rapidly , yet the average number of children per family has decline ." Three possible explanations for this process are given below.
What are externalities? Give an example of positive and negative externality and explain why the market outcomes are inefficient in the presence of externalities
Differentiate between real and nominal variables. In economics, the distinction among nominal and real numbers is often made. Nominal variables -- like nominal wages, interest
Engel Curves -Engel curves relate quantity of good consumed to income. -If good is a normal good, Engel curve is sloping upward. -If good is an inferior good, the Engel c
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