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Explain about a model and use of it in economics.
A model is a simplified demonstration of a real situation which is used to better understand real-life circumstances.
The production possibility frontier (PPF) demonstrates the trade-offs facing an economy which produces only two goods. This demonstrates the maximum quantity of one good which can be produced for any specified production of the other.
Cornell University conducted a study of wage differentials between men and women reported that one reason that men's wages are higher is that men tend to have more years of work ex
how can we derive IS curve why has it negative slope
Q. What do you mean by Capital Flows? With free capital flows, this is a very unreasonable assumption. If we domestic interest rate increase against the foreign interest rates,
what are the purposes of taxation?
If a firm wants to sell goods more often, would they prefer to produce a high quality good that will not wear out or one that will wear out faster. For example, what is the 'life e
Do you agee or disagree " Economic theory helps society reach economic goals that it has selected for itself?" Justify your answer.
What factors find out the price elasticity of demand? Factors which determine the price elasticity of demand are: a. Whether close substitutes are accessible b. Whether t
Determine the exchange rate When a currency is freely floating, the central bank doesn't have to set monetary policy to alter the external value of the currency unless instruct
what is the company lidted in NASDAQ that is included in the dow jones industrial average
Assuming an economy with no government and no foreign trade. Measure GDP for the following output scenario: There are three firms: firm A is a minning company, firm B is a stee
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