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Using a production possibilities curve, an economy that produces an output combination less than the maximum possible is depicted by a point located.
a. at the top corner of the curve
b. near the middle of the curve
c. at the bottom corner of the curve
d. outside the curve e. inside the curve
Can democracy survive if a majority of the citizen pays little or nothing in taxes while benefiting directly from a higher level of government spending? Why or why not?
what is the role of advertising in baumol''s model?
The law requires that the parties be competent to enter into a contract. Give an example of a party who lacks competence.
what is difference b/w dynamic and static multiplier
define business cycle
what role does interst rate play in refernce to output?
The Budget Line: The Consumer Constraints The consumer would like to maximize his satisfaction by reaching the highest possible indifference curve. But in the process, he faces
What is Cost-push inflation Cost-push inflation takes place when costs of production increase causing short-run aggregate supply curve to shift to left. The main causes of c
#questionAssume that an economy''s GDP Y=5000. Also assume that the government runs a deficit where tax revenue T=1000 and government expendituresG= 1500. The consumption function
What is the difference between accounting profit and economic profit? Accounting Profit: The accounting profit of a business is the revenue of business minus the explicit
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