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Use a PPF to explain the trade-offs that all economies face.
All countries must construct some sort of system whereby output, allocation and distribution of goods is decided. In the method, of solving the basic economic problem there will always be a trade-off (i.e. an opportunity cost) as resources are limited and our (societal) needs are infinite. This trade-off can be illustrated diagrammatically by the PPF
Which of these will be included in US GDP for 2005? a) A car produced in Japan in 2005 and sold in the US in 2005 b) A car produced in the US in 2004 and sold in Japan in 2005 c) A
Profit: This is surplus left over after a company sells its output and pays off cost of production (which includes raw materials, labour costs and a proportional share of its capit
You've been contacted by a local semi-professional team in Colfax, known locally as the Colfax Thunder. They play their home games at the HS baseball park for only $100 per month.
Consider an economy with high innovative potential, but where saving is insufficient to fund innovative investments. Use Garrison's capital-based macroeconomics to explain how more
what monopoly market .
if the marginal production of labor is rising, is the marginal cost of production rising or falling? Briefly explain
alternative theories of trade
Problem 1: (a) Critically examine the differences between the Neo-classical growth models and the endogenous growth theory. (b) Show the relevance of such models in explain
aid of production possibilty curve
define stagflation
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