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What is the opportunity cost of economic growth?
Opportunity cost measures the cost of an economic option within terms of the next best option foregone.
The government of a developing country only meeting its important wishes may chose to reallocate resources through the production of consumer gods to investment the goods.
Opportunity cost of economic growth: The economy moves from A to B
The short run opportunity cost of HG additional investment is ED lost consumer goods probably essentials. People might starve for additional producer goods.
unplanned changes in inventory are counted as inventory spending by firms.say true or false and justify
What is the use of long-run average total cost curve in the producing output? The long-run average total cost curve demonstrates the relationship in between output and average t
Explain modern theory of rent eith diagrams and defination
Differentiate economic growth and economic development. Economic growth is a raise into real GDP. GDP is only one dimension of development and therefore is a narrow measure of
a good is classified as inferior if a. consumers buy less when the price rises b. consumers buy less when the income rises c. consumers buy less when the price falls d.
Q. Describe the Keynes motivation? Keynes' motivation: In good times, when Y is high (above its trend), national income is high (above it trend). Consumers will take this opp
explain the neo-classical theory of trade and show the difference between this and the classical approach, as wellas the similarities
WHAT IS THE CENTRAL PROPOSITION OF THE ORTHODOX KEYNESNIANS?
The events X and Y are mutually exclusive. Suppose P(X)=.05 and P(Y) =.02. What is the probability of either X or Y occurring? What is not probability of X nor Y happens?
assuming that B=0.33 Y1998=[0.33]Y1998 Estimate the permanent income for 1998
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