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Explain whether the following statements are true or false:
a) The long run aggregate supply curve is vertical because economic forces do not affect long run aggregate supply.
b) The aggregate demand curve slopes downward because it is the horizontal sum of the demand curves for individual goods.
c) Whenever the economy enters a recession its long run aggregate supply curve shifts to the left.
There is a joke among economists that children are an "inferior good." In many countries there appears to be a negative relationship between income and the number children in a hou
Equilibrium in Money Markets Having dealt with the forces that determine the supply of money and demand for money, let us combine supply of and demand for money to determine eq
I sent to you an email for the online homework the deadline through 10 hours all questions are about 10 please do it in full score
What is the difference between economic growth and economic development? Growth is only individual dimension of development. Economic development is a complicated multi-dimensio
discus the various measures that may be taken by a firm to counteract the evil effect of a trade cycle
1. In December 1979 it was possible to buy a January 1980 contract in gold at the New York Commodity Exchange for $487.50 per ounce and sell an October 1981 contract for $614.80 on
Effects of consumption function.
Consider the following: "The physiocrats spoke of the natural order and favored laissez-faire yet strongly supported the absolute authority of the monarchy." Analyze this supposed
40
The annual income from an apartment complex is $20,664. The annual expense is estimated to be $3,414. The apartment complex could be sold for $146,499 at the end of 10 years. If yo
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