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This paper empirically analyses the effect of oil price shocks on key macroeconomic indicators in the United Kingdom.The aim of the paper is to establish a relationship between oil
REVEALED PREFERENCE APPROACH The downward slope of the demand curve was justified on the basis of utility derived by the consumer. But specification of consumer tastes in form
A 415V, 3-phase, 4 wires, star-connected system supplies three resistive loads as shown in Figure. Determine (a) The current in each line and (b) The current in the neutr
In the long-run framework, budget surpluses: A. should be run on a permanent basis since they boost saving and investment and stimulate economic growth. B. should be run whenever o
What causes economic growth? Causes of economic growth: Into the Solow model, economic growth is based onto the quantity and quality of technology and resources. Growth
factor contribute long run trend of term of trade in developing country
AD-curve, just like before, displays combinations of Y and P where both goods market and money market are in equilibrium. At any given instance, even when we have inflation, aggreg
The Widget Manufacturing Company must replace a widget machine, and is evaluating the capabilities of two systems. A requirement of management is that the machine chosen must be p
The aggregate production function Definition Imagine the national economy during a short period of time (say one week). We refer: L: total amount of work used duri
If 5000 units are sold and income increases by 20% with an income elastiticy of +2, what will the number of sales units be after the increase
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