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Limitations of the theory of rational expectations: Critics of this theory note that if policy makers have more information about the economy or their own actions than d
Explain the Real wage with example Consider following scenario. You work full time and during January 2008 you make 2000 euro after tax. A specific basket of services and good
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
Composition and Direction of Trade: The impact of trade reforms can be observed from the changing structure of India's foreign trade in terms of diversity of production
define the economic principle of opportunity cost explain whether spending 17.9% of gdp is too much or too little to spend on healthcare
Illustrate the overview and importance of macroeconomics? After familiar with this illustration, able to know: a. An overview of macroeconomics is the study about the econom
Discuss about the Keynesian economists The Keynesian economist A. W. Phillips developed short-run Phillips curve analysis in the 1950s. Phillips had researched the relationshi
Moving along a demand curve, quantity demanded decreases 8 percent when price increases 10 percent. a. The price elasticity of demand is calculated to be____________ b. Given the
Describe how exchange rate is expressed in some nation In some nations, exchange rate is expressed using home currency as base currency. In UK for instance, Danish exchange rat
Q. Augmented Phillips curve? Remember that Phillips curve, as it was incorporated into the Keynesian model, presumed a stable relationship between wage inflation andunemploymen
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