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Consider the market for the trusty widget (the most common good in the world if economics textbooks are to be believed). Assume that the market is perfectly competitive. Suppose th
If the MPPL/ MPPK in the production of a good are less than w/r, why is the produce not in producer equilibrium? Explain how, with no change in budget size for the firm and with th
Explain why we cannot measure the national product simply by adding up the production of all firms. Why do the economists use real GDP rather than nominal GDP to gauge economic
Q. Determine price level from the quantity theory of money? The price level The price level is determined from the quantity theory of money: P = (M.V)/Y
There are many ways to measure the national income. a) List at least 5 of themk question #Minimum 100 words accepted#
why does the price level not enter desire consumption, investment and net exports of the desired aggregate expenditure function in the keynesian cross model
THE FOUR BIG MACROECONOMIC ISSUES AND THEIR INTER-RELATIONSHIPS 1. Link between growth/development and the various factors of production of the commodities: Before we mov
Why might a perfectly competitive market firm be willing to run at a loss in the short run? The assumptions of a PCM firm should be outlined in order to end that the PCM firm i
why is imports subtracted from the expenditure approach
DEFINE IS CURVES AND DRIEVE IT
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