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Explain the concept of elasticity and describe why the supply of petrol in the short run is relatively inelastic.
How does the Ricardo Viner diagram react when once price changes, effects on real wages, and labor allocation?
Which of the following will decrease the nominal deficit? A. An increase in taxes. B. An increase in the debt. C. An increase in government expenditures. D. An increase in interest
The price of gasoline has recently come down as has the quantity. Show graphically and explain what might have caused this.
Determine the GDP price index for 1984, using 2005 as the base year
1 ) GDP Consumption 240 244 250
Historically, the proportion of students entering a university who finished in 4 years or less was 64%. To test whether this proportion has decreased, 122 students were examined an
In a city of 120,000 people there are 20,000 Norwegians. What is the probability that a randomly selected person from the city will be Norwegian?
Which of the following is considered when calculating a country's balance of payments? Military expenditures state unemployment domestic inflation rates foreign inflation rates.
What are the indicators of development? Economic development is a complicated multi-dimensional idea. Preferably each aspect of development needs its own indicator. • Prof
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