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using the ppf model explain the principles of economics of allocative efficiency
how would you describe a neo-keynesian (or neoclassical) synthesis? and why did Joan Robinson label it "bastard Keynesian"
State the Private sector in the circular flow Private sector total income is known as the national income. As private sector receives entire return from the factors of prod
Which is a better measure of economic well-being real GDP or Nominal GDP? Ans) Well real GDP takes into account the inflation rate and therefore is more accurate at recording th
Public policies often alter the costs and benefits of private actions. Why is it important for policymakers to consider both the direct and indirect effects of public policies? Sel
what are the purposes of taxation?
What are the contents in the market strikes back? a. Price controls • Price ceiling • Price floor b. Quantity controls quota c. Excise tax d. Inefficiency
PRODUCTION POSSIBILITY CURVE As we have seen, the essence of economic analysis is the problem of scarcity and choice. We know that limited productive resources compel individua
graph the central equation of the solow model. argue that a steady state exists and that the economy will converge to this point from any initial starting capital stock
effects of tax increase on the gross domestic product
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