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Explain how Monetarist economics views the role of markets and government intervention in fighting business cycles.
Monetarist economics believes that the government should follow a steady money supply and not use active monetary policy interventions over the course of the business cycle.
1. What are externalities? Give an example of positive and negative externality and explain why the market outcomes are inefficient in the presence of externalities? 2. What are
In this part, use the results for market demand for short-run and long run market supply of good x1 obtained in parts one and two. When a change (e.g. income or taxes) is introduce
What are the types of demand
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
can economic laws proved universly
Question 1 (9 marks) During the 1990s, technological advance reduced the cost of computer chips. Explain, with the use of supply and demand diagrams, how the following mark
draw demand curve for a-phone explain how the graph, price ,and quantity demand will change if there is an overall increase in income.
prove that marginal utility of x=the price of commodity x.
how to calculate the volume of exports? or what is the definition?
The marginal rate of substitution (MRS) quantifies the quantity of one good a consumer will sacrifice to get more of the other good. – It is calculated by the slope of the indif
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