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Fiat money is what is regular in modern economic systems. Fiat money is money that is described as legal tender by either a government or some organization with the authority to explain legal tender. In the United States the Federal Reserve System issues Federal Reserve Notes, which give as the legal tender for the United States. The currency used here is backed by nothing excluding the faith of the general public that this money will be acceptable by everybody else with whom you could have an economic transaction.
using necessary and sufficient condition explain consumer surplus diagrammically and mathematically?
Draw a marginal utility cureve for a good that has a constant marginal utility
If a large amount of skilled labor immigrated into the country, which allows the available resources to produce more of goods X and Y, which of the following will occur? A.the y-i
Q. Describe the Theory of effective demand ? Effective Demand:Theory of effective demand was developed separately in the 1930s by Michal Kalecki andJohn Maynard Keynes. It eluc
Use a PPF to explain the difference between actual and potential growth. The PPF shows possible output, taking into consideration all factors of production - but de facto outpu
in the context of managerial economics how do you explain a rational producer.illustrate giving example.
causes of monopoly
the law diminishing marginal utility explain through flow chart
what are fundamentals of welfare economics?
what is stagnation thesis?
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