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Discuss whether inflation or deflation is the more serious problem for an economy.
Inflation is a consistent general enhance in the price level, whereas deflation is a consistent fall in the general price level, i.e. negative inflation. The basic damage to an economy of both, ultimately showing - perhaps - that deflation, whereas rarer, can be held by many economists to be the greater of two evils.
how do you calculate opportunity cost
Jane receives utility from days spent travelling on vacation domestically(D) and days
illustrate and explain the changing demand for big mac using indifference curve and budget line
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Problem: i) What might be the possible causes of inflation according to economic theory? ii) Taking stable prices and full employment as two macroeconomic objectives of gov
Deviation - Difference between the expected and actual payoff - Adjusting for the negative numbers - The standard deviation measures square root of average of squa
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Define law of supply. Quantity supplied rises as price raises, other things constant. In other words, "Other things being equivalent, when the price of a product rises, then s
Rework figure 1 assuming a closed economy
Q. What is Formal Economy? Formal Economy:Sector of the economy that produces services and goods in return for monetary payment, and is fully integrated into the formal structu
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