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explain how the keynesian cross shows that the economy is susceptible to self-fulfilling prophesies, either positive or negative
The data used for this project are contained in the EViews-files. Before you start working, copy the files on a local drive and use the copied files only. You are expected to so
THEORY OF CUSTOMS UNION: A customs union is an association of two or more countries to encourage trade. The countries making such an arrangement agree to eliminate tariffs and
The Industry's Long Run Supply Curve * The Effects of Tax - Earlier we studied how firms respond to taxes on an input. - Now, we will consider how firm responds to tax o
Demand Pull Inflation: It describes a sustained increase in the general price level that is caused by a permanent increase in nominal aggregate demand. Simply, is can be view
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John has a utility function given by U(M) = M0.5, where M represents an amount of cash prize in a game. If John wins, with the probability of 0.2, he will get $900; otherwise, he g
Surplus The surplus is a condition under that supply for a good or service is in excess of the demand for that good or service. When this happens, there is commonly a reduction
Ask quesQuestion 1. A firm has a production function given by Q = L1/2 K, where L is labour and K is capital. Draw and appropriately label at least three points on each of the isoq
ELEMENTARY THEORY OF PRICE FORMATION: DEMAND-SUPPLY ANALYSIS: We discuss the elementary theory of price formation. Demand curve in the market is derived from the aggregate con
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