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Q. Describe the classical model of macroeconomics?
'The classical model' was a term coined by Keynes in the 1930s to signify essentially all the ideas of economics as they apply to macro economy starting with Adam Smith in the 1700s all the way up to the writings of Arthur Pigou in the 1930s.
Now we will describe the major characteristics of what we now call the classical model and how macroeconomic variables are determined in this model. We will focus on the cycles and all the components comprised in the GDP (consumption, investment, imports and exports) are variables where trend has been removed.
In real life, the operation of simple multiplier is affected by many leakages. Leakages in the multiplier arise out of the following reasons: (1) Saving: If all the income is sp
Process to control inflation rate The belief that control of inflation must be the primary economic objective of government can be traced back to neo-liberal revolution that st
Q. Show the Different kinds of unemployment? All unemployed individuals are presumed to belong to exactly one of these categories so that if we sum unemployment from each categ
When Sonoma Vineyards reduces the price of its Cabernet Sauvignon from $15 a bottle to $12 a bottle, the result is an increase in a. the demand for this wine b. the supply of
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In a regression analysis, three independent variables are used in the equation based on a sample of forty observations. What are the degrees of freedom associated with the F-statis
what is gdp
What is the meaning of Deindustrialisation Deindustrialisation or structural decline of many manufacturing industries along with activities like coal mining is associated with
There are many other macroeconomic indicators which one might expect to be affected following an oil price hike. Perhaps more obviously affected than GNP is inflation. DePratto et
A group has chartered a bus to Atlanta. The driver costs $200, the bus costs $500, and parking in Atlanta will be $90. You have already paid $700 to reserve the bus and a driver. T
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