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The U.K. produces and imports eggs. Suppose that the government imposed a quota on imports: Foreign suppliers could export no more than Q eggs (regardless of price). What effect do
State in brief the Nominal wage level In macroeconomics, we are generally not interested in the wage for a specific individual though in the average wage for all employed indi
exam notes of national income accounting
Ordinal Theory: A Short Note In ordinal approach, utility is measured ordinally i.e., qualitatively (not numerically or quantitatively). Alternatively, consumer can rank her
You are given the following information about an economy: Gross Investment = 40 Govt. purchases of goods & service =
Compared with the situation before 1981, the marginal tax rates imposed on individuals and families with high incomes are now lower. What was the top marginal personal income tax r
The problem with the Keynesian model We can classify two problems with the Keynesian model as developed so far: 1. Π is exogenous. Although inflation may temporarily deviate
Suppose there are two investors. One has a project to build a factory; the other has a project to visit casino and gamble on roulette. Which investor has a greater incentive to iss
Your local newspaper reports the following: the owners of the New Orleans Sandwich Shop in Seattle, Washington, found that when they priced their hot dogs (reportedly the rolls-roy
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