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Which of the following is assumed in constructing a typical production possibilities curve?
a. the economy is engaging in international trade.
b. production technology is fixed.
c. the economy is using its resources inefficiently.
d. resources are perfectly shiftable (equally efficient) among alternative uses.
A recent study in NJ showed that 50% of all patients will return to the same dentist. Suppose nine patients are selected at random, what is the probability that: (a) exactly five o
Good X is produced in a competitive market using input A. Explain what would happen to the supply of good X in each of the following situations. The price of input A decreases.
explain the neo-classical theory of trade and show the difference between this and the classical approach, as wellas the similarities
Consider the multiplier model we have studied in class. Assume that the economy is initially in equilibrium and that real income is $180. The marginal propensity to expend is 0.66.
how the theories of trade cycle affects in the business
In The No-Trade Equilibrium Stormlands: WageL = 24 WageW = ? MPLL = 4 MPLW = ? PL = ? PW = 4 Reach: Wage*L = ? Wage*W = 6 MPL*L = ? MPL*W = 1 P*L = 3 P*W = ? (a) Which
A government can finance its budget deficit by doing all of the following except: A. borrowing from its central bank. B. printing money. C. selling bonds. D. buying bonds.
c) Explain why perfectly competitive markets lead to an allocatively efficient allocation of resources in the long run
The AD curve is the aggregate demand The AD curve is the aggregate demand as a function of P whenthe goods and money market are both in equilibrium
What are the different stages of analysis in planning activities?
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