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You are examining the effects of a specific tax of 10 cents imposed on the sales of a product that we shall call XYZ. To carry out your analysis, assume that the market is a perfec
a severe restriction occurs to the availability of consumer credit throughout the banking and finance system
what is the use of models in economics?
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Define the Production Possibilities Curve
if you were making the pricing decision for the gasoline company, would you cut, raise or leae the price unchanged
Explain the how the classical school views the role of markets and government intervention in fighting business cycles The classical school believes in the smooth functioning o
critical of comparative advantage theory
Causes of inflation: Excessive growth in wages relative to productivity can cause inflationary pressures. This causes aggregate demand to increase relative to aggregate supp
Laspeyres index The Laspeyres index tells us that: - The amount of money at present year prices which an individual requires to purchase bundle of goods and services which w
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