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What actions could a government take in order to keep the price above market equilibrium? There are four basic possibilities here; 1) Minimum price; 2) A tax on the good
explain how macro and micro issues may be represented using production possibility curve
What is the difference between 'scarcity' and 'shortage'? 'Scarcity' and 'shortage' have dissimilar definitions. In reality, when most of the goods and resources are scarce go
When measuring price levels in the economy (such as when calculating the CPI index), why is a weighted average used? Because we require giving greater emphasis to prices at whi
About Bounce Fitness Bounce Fitness provides a range of services and arrange various sessions and programs in the area of fitness that helps to the people to be healthy. The
What have been some justifications given for the historical exclusion of household production from the national accounts? Some reasons have included: a. households are not p
1. Describe why government regulation is required, citing the major reasons for government involvement in a market economy. 2. Justify the rationale for the intervention of gove
a reduction in investment spending would lead to
What is the difference between houehold and consumers?
What are the basic economic institutions? There are two fundamental economic institutions which have been so far used into the real world are as: a. Market economic institut
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