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What is Frictional unemployment
Individuals who are temporarily unemployed when transiting between jobs or just entering labour market. This kind is typically short in duration though always present in a market economy.
A person chooses between leisure and consumption. All of their consumption comes from current income. The utility derived from any combination of leisure and consumption is given b
Introducing the Foreign Trade Sector Most economies in the real world are open economies. They engage in trade with other economies. Goods and services are exported and import
: Suppose that 100 people live around a hazardous waste dump. If the people continue to live there for 20 years, one of them will likely contract a painful, non-fatal cancer that w
what is the relevance of the lewis model
factors that causes the shifts in balance of payments
what is national income
For you and other Mexican farmer-ranchers rice is a substitute good for corn as basic food stuff for human consumption. If the market price for feed corn and rice were the same bef
Explain how inflation unemployment trade-off is not feasible under adaptive expectation.MEC002
Which of the following statements is true? a. economic profit equals accounting profit minus implicit costs b. the short run is any period of time in which there is at least
intrepret national income statistic
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