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From estimating the aforementioned unrestricted VAR, a table of coefficient and statistics will be produced. From this table, certain statistical information can be analysed, such as the statistic, and t statistics for the lagged oil variables.From this we could carefully observe what effect oil price changes have on the other variables. These statistics will not offer any help in terms of analysing the initial aims of the project, therefore an analysis of this table will be omitted from the results.
concept of multiplier - static and dynamic
Consider the following Marginal Private Cost (MPC), Marginal Social Cost (MSC) and market demand curves. These curves relate to a market for a product, the production of which gene
Explain the law of diminishing marginal returns using the example of a factory which is currently running at half capacity and employs more staff
Suppose that the reserve requirement is 10 percent and the balance sheet of the People's National Bank looks like the accompanying example. a. What are the required reseves of P
explain how national income is determined under the following economies; 1.frugal economy 2.governed economy
What is money wage rate While the money wage rate or nominal wage rate is the hourly wage rate calculated in money that a worker receives for supplying labour, the real wage r
Equilibrium in both the goods and in the money market If both the goods- and the money markets are to be in equilibrium... ...if P increases, Y must fal
Explain how changes in the quality of healthcare will influence the demand for care.
Difference between mec and mei.
Explain the elasticity concept as it applies to necessities and luxuries. Calculate the price elasticity of demand when P= 160 - Q= 480: and when P=240 - Q=320. Calculate and inter
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