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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.
Critically evaluate measures used by governments and central banks to manage the economies of their countries. By critical evaluation use convincing arguments for or against measur
Neo-classical thinking on growth: Neo-classical thinking on growth is owed to the Robert Solow whose exogenous growth models in the of the mid-20th century remained
Q. Illustrate the Says Law? With Say's Law, aggregate demand would always be equal to aggregate supply and cross model would be incorrect. Keynes's argument as to why Say's
Usually the government is very good at wasting money and resources so less spending, by the government helps the economy as those resources are allocated in areas that are more wel
A firm sells its product in a perfectly competitive market where other firm charges a price of $90 per unit. The firm's total costs are C(Q) = 50 + 10Q + 2Q2. How much output shoul
What is the formula for computing for national income in a closed economy with government intervention
Can a nation's economy grow larger over time? How?
derive the isoprofit functin
multiplier static and dynamic
Assume the United States has the following consumption information: GDP = Income Consumption
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