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The events X and Y are mutually exclusive. Suppose P(X)=.05 and P(Y) =.02. What is the probability of either X or Y occurring? What is not probability of X nor Y happens?
Suppose that Michael and Dwight each have a $60 weekly entertainment budget. They pay the same prices for two goods, "an evening reading books" (an ERB) and "an evening of beer and
Assume that a Mazda 2 sells for 16,000 Australian dollars in Australia and 10,000 Canadian dollars in Canada If purchasing-power parity holds, what is the Canadian dollar/Australia
what is national income
WTO Negotiations: As is obvious from the above explanation that India has favoured multilateral trade reforms ever since the time of GATT (1947) to WTO (1995). Currently WTO
Given the above trade between the two countries, explain the trade effects on product prices, and factor incomes. Why do these effects occur?
In the keynesian cross model, assume the consuption function is given by C=200=.75(Y-T) and planned investment=100, government purchases and taxes are each of them 100. a) Draw a g
A firm with two factories, one in Michigan and one in Texas, has decided that it should produce a total of 500 units to maximize profit. The firm is currently producing 200 units i
What are the main aspects of globalisation Two of the other main aspects of globalisation are greater international mobility of capital and to some extent of labour. Globalisa
How does an increase in income affect a consumer's budget line and their total utility?
Q. Explain IS curve with inflation? The IS curve with inflation We can draw IS curve for a given value of π e . As earlier explained, IS curve isn't affected by changes
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