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Expectations played a major role in Keynes' theory of the determination of aggregat output and employment in market economies in the short run. Expectations about future yields on
yt =a+fyt-1 +ut, ut =et +?et-1, where et is independent white noise assume the process is stationary. Will OLS generally provide you with consis- tent point estimates of f? Can y
Question 1: (a) Describe the three different ways of calculating national income. (b) Does the National Income figure accurately reflect the living standardof a population?
Contribution of Foreign Trade to Economic Development: Foreign trade contributes to economic development in a number of ways. • It provides flow of technology which al
Problem 1: Health insurance leads to health promotion. Using diagrams, describe the impact of health insurance on the demand for health care. (a) Distinguish between negati
What are the advantages of trade surplus
RELATIONSHIP BETWEEN TFC ,TC ,TVC
Explain the approach of characterizing the modern economic environment. Modern economics gives various perspectives or angles to seem at real world economic issues. An economic
How can we calculate the Inflation rate Inflation: The rise in general prices and the decrease in value of money. Inflation is a sustained increase in the general price level
Welfare Analysis 1-Of the following four institutions for allocating apartment to different people at different prices i. The competitive market ii. A discriminatin
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