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What are expansionary and contractionary effects? Expansionary effect refers to the effect of raising the equilibrium level of national income. For example, an increase in gov
What is market failure?
Potentials of Productivity Growth: It needs to be noted that growth in productivity witnessed in the past are an average rate at the All-India level. There are considerable re
Draw an indifference curve for consumption and hours of work. (Hint: in class we discussed indifference curves for consumption and hours of leisure, this is different.)
What are the properties of compensared demand function
Difference between accounting profit and economic profit: The difference between accounting profit and economic profit is that economists include in total cost of production b
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Problem: i) What might be the possible causes of inflation according to economic theory? ii) Taking stable prices and full employment as two macroeconomic objectives of gov
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price quantity 10 60 20 70 30 90 40 110 50 130 derived a supply function for the relation between price and quantity
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