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What is Economic Theory? An economic theory that can be considered an axiomatic approach comprise a set of assumptions and circumstances, an analytical framework and explanatio
identify which curve (demand or supply) will be affected?
objestive of williamson modle
Suppose that Congress increases the minimum wage to $10 an hour. a. Use a supply and demand model for unskilled labor to show the effect on the number of unskilled workers employed
The Snob Effect - If network is negative externality, a snob effect exists. * The snob effect refers to desire to own unique or exclusive goods. * The quantity demanded o
what are the uses of elasticity to the private sector
Production possibility frontier PPF is a combination of two or more goods a which a country can make in a given timeline or period with resource fully employed.
suppose either computers or televisions can be assembled with the following labor inputs: units produced: 1 2 3 4 5 6 7 8 9 10 total labor used: 3 7 12 18 25 33 42 54 70 90 Draw th
Tc and TVC curves have an inverted s-shape
A surplus on the current account of balance of payments can be financed by? 1. Inflow capital on capital account 2. A surplus on the government budget deficit 3. lending abroad on
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