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What is ceteris Paribus?
Ceteris paribus is a Latin phrase, literally translated as "other things the similar," and usually rendered in English as "all other things being equal." A prediction, or a statement about causal or logical connections among two states of affairs, is qualified by ceteris paribus in order to acknowledge, and to rule out, the possibility of other factors which could override the relationship among the antecedent and the consequent.
How can we identify that something is elastic or inelastic? When demand of any commodity does not change with the change in price of that commodity that item is said by inelas
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
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is south africa''s economic system now more allocative efficient
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Benefits of Education The returns a person/society (state/government) gets from acquiring education is referred to as benefits from education. If such returns are paid/receive
Suppose that two wage regressions are estimated for native and white workers: Wn = 5.0 + 0.10S Ww = 6.0 + 0.14S Pick a reasonable average level of schooling for white and Native wo
Marginal Product (MP) of a Factor: From the above mentioned production function, immediately we can study the effect on total output when there is a variation in labour utlili
Consider an economy, in which technological capabilities become obsolete. Use the Solow-Swan model and the knowledge spillover model to explain how its productivity growth rate dep
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