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What are the differences between the IS-LM model and the Keynesian model?
The 'simple' Keynesian model is a simplified model to exemplify Keynes's idea about the equilibrium income.
On the other hand, the IS-LM model is a more general model (involving more variables, e.g., P and r) to demonstrate Keynes's idea about the equilibrium income.
Demand Pull Inflation and Cost-Push Inflation: Demand Pull Inflation: It describes a sustained increase in the general price level that is caused by a permanent increase in n
how to find least cost combination of factor inputs given the production
Q. What do you mean by Benefits? The benefit of a project, policy or programme is the positive, expected aspect of an outcome, including the improvement in environmental qualit
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The Nature of Policy-Making : It follows that recommending policy must itself be a subjective exercise. The effects of particular-policies at a particular historical juncture
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There are six potential customers of computer games, each willing to buy only one game Consumer 1 is willing to pay $40, Consumer 2 is willing to pay $35, consumer 3 is willing to
discuss whether marginal utility is a realistic piece of economic analysis in explaining consumer demand
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