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How the inflation effect on the Import and Export of the country? When general price level enhances in an economy, local currency is devalued. Economy has to spend more on imp
discuss the law of variable proportion with the help of isoquants
why diminish MRS?
what are the sources of monopoly power
1. Explain how the aggregate supply curve for the entire economy can be derived under; i. Classical assumption ii. Keynesian assumption 2. Explain how equilibrium can be a
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How is microeconomics differed from macroeconomics? Microeconomics focuses onto how decisions are made through individuals and firms and the effects of those decisions. For exa
Implementation of economic policy: On the ability of civil servants and Government to learn, Government must possess the following qualities to ensure implementation of econom
Differentiate between real and nominal variables. In economics, the distinction among nominal and real numbers is often made. Nominal variables -- like nominal wages, interest
Explanation of the Break in Trend: An economy can grow in three different ways or all three ways may work simultaneously: 1) Horizontally, i.e., it may go on producing m
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