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1 Households' consumption at current prices rises from £100 billion in year 1 to £110 billion in year 2. Over the same period inflation is 10 per cent. What is the level of households' consumption at constant (year 1) prices in year 2?
2 What is the definition and what are the characteristics of a recession?
3 What is the definition and what are the characteristics of a recovery?
The availability of investment capital is critical for a market economy to grow. Explain how this investment capital is transformed into fixed capital goods, new technology, and cost reduction using new methods of production.
Are e-books and textbooks complementary or substitute goods?
Provide an example of an economic good whose producer would increase the quantity supplied if the price were to go up. Summarize why the quantity would increase in your response.
1. b. in at least 3 detailed paragraphs answer the following three questions use examples to illustrate your response
As an aid to the establishment of personnel requirements, the director of a hospital wishes to estimate the mean number of people who are admitted to the emergency room during a 24-hour period.
Determine what happens in the new equilibrium. Does the individual buy more or less of OG. Does the individual buy more or less of HC. Explain why.
Is this microeconomic or macroeconomic? "More workers are being hired by the nation's businesses." Comment on the statement from an opportunity cost perspective: "The main cost of going to college is the $15,000 per year in tuition." Suppose that a ..
1. why does rent control result in a shortage of rental units.2. how does price elasticity of demand affect how much of
What is the own price elasticity of demand when Px = $154? Is the demand elastic or inelastic? What would happen to the firm's revenue if it decided to charge a price below $154?
in what ways does economics class relates to the real world? how does knowledge gained from economics teaching been
unique creations holds a monopoly position in the production and sale of manometers. the cost function facing unique is
What type of tax is this? Explain and what happens to the supply of cookbooks - what happens to the equilibrium price?
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