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Much of undergraduate macroeconomic theory is discussed on the assumption that, in the short run, the expectations of economic agents about the future values of macroeconomic variables are given. The rationale for this treatment of expectations in macroeconomic theory can be derived fiom Keynes' views on the nature of expectations, including his discussion in the General Theory. While Keynes' views on the nature of uncertainty and expectations form the basis for the writings of many Post-Keynesian economists, most of modern macroeconomic theory treats uncertainty and expectations in a radically different manner.
Change in the population of consumers: Population changes may affect the demand for a commodity.Areas of high population may demand more of certain commodities than areas of low
In June 2009, Textile co. (a domestically located firm) purchased 1000 yards of cloth from India (a foreign country) for $1000. Textile co. hired Elizabeth and paid her $5000 to s
Factors of Production Factors of production are the resources that are utilized to manufacture goods and services: 1. Natural resources: The things developed by acts of n
Q. Define Debt? Debt:Total amount of money owed by a company, individual or other organization to banks or other lenders is their debt. It represents accumulated total of past
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Three factors that determine demand for coffee and tea
how can draw the table and diagram of production function function with one veriable
Discuss two factors that would increase demand for labortion..
Fiat money is not a new idea. Some European historians recognize the first use of fiat money in Europe resulting from gold and silver smiths issuing their customers receipts for g
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