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what is cardinal utility. Please give an example
NEW CLASSICAL BUSINES CYCLE THOERY: Yang, Xioaokai, Economics: New Classical versus Neoclassical Frameworks, Oxford: Blackwell Publishers. The book goes on to rigorously dev
How is microeconomics differed from macroeconomics? Microeconomics focuses onto how decisions are made through individuals and firms and the effects of those decisions. For exa
Fixed input and variable input: A fixed input is that input whose quantity cannot be varied in the short-run when demand conditions require an increase or a decrease in produc
Is the terms of trade (TOT) explained as the ratio of the value of exports to the value of imports? How does the TOT relate to the exchange rate? The terms of trade (TOT) is ex
Why is investment so important in an economy? Define investment as an enhance in capital stock and link this to broad macro issues; future output, enhance in living standards, ta
Explain why goods provided by natural monopolies are often publicly owned. It would seem that most normal monopolies come with high MSB and also that society has deemed these g
Analyse the method by which a firm can allocate the given advertising budget between different media for advertisement?
The town utilizes standard disc type PD water meters for all residential connections. These meters were warranted by the manufacturer to be accurate within two percent of actual f
Discuss the concept of dynamic multiplier
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