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What two developments are demanding new ways of looking at the economic world in the 21st century? What kinds of sustainability questions do they raise?
Two developments that are demanding latest ways of looking at the economic world in the 21st century are 1) the environmental impact of long-term fossil-fuel based economic growth, mainly with the dramatic rise in CO2 emissions; and 2) the persistence of substantial global poverty and its threat to social sustainability.
When the price of candy bars increased from $.45 to $.55 the quantity demanded changed from 21,000 per day to 19,000 per day. In this range the price elasticity of demand for cand
Arbitration The use of a third party to describe between two sides dead locked in a negotiation. The arbitrator's decision can be binding or not binding, as before agreed upon
edge worth model
Explain the Human Development Index Introduced by the UN in 1990, the index take into account not only the goods and services formed but also the ability of a population to use
Pure Monopoly: Pure monopoly examined the market structure that is generally regarded as the polar opposite of perfect competition – i.e. the monopoly model. Like the perfect
GOVERNMENT FINANCE: UNION AND STATES: The fiscal position of the Governments - both Centre and States - has been under stress since the mid-1980s. The stress stems from the i
(a) What is meant by heteroscedasticity and what are the consequences of applying OLS estimation in its presence? (b) Explain in details the Generalised least Square procedure
Assume you see that two macroeconomic variables are correlated with each other. But you want to know if there's an underlying or causal relationship between the two variables. Wo
the sources of market failure
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