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What are the economic and social costs of high inflation levels?
High inflation will have serious redistribution costs; make distortions to the economy; decrease international competitiveness;
Affect the balance of payments and exchange rate;
Have negative effects on growth.
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
How might you determine whether flute-playing ability is a highly heritable trait? If you want to improve your flute playing and someone tells you that musical ability is heritable
consumer=m with the help of indifference curve analyis
Functions of Money Money performs several important functions. It serves as a medium of exchange, a unit of account, a store of value and a standard of deferred payments. In a
nm utility index
This firm will maximize profits by producing the level of output that corresponds to point: a. b. c. or d. ?? Refer to Figure for a perfectly competitive firm. Given the
Show that when a plane wave is transmitted through a thin lens of focal length f in the direction parallel to the optical axis of the lens, its converted into a paraboloid wave (th
The minimum wage was increased in 1996 amid cries by various economists that it would cause unemployment. Critics shown that the last time the minimum wage went up the si
What is return on investment? Return on investment is the profit earned by investing in some business or some project, for instance investment in stock exchange. Profit earned
quasi rent theory
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