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Distinguish between the terms of trade and the balance of trade.
Basic explanation of the terms of trade as the average price of exports in relation to the average price of imports - and exemplifying using some form of export and import basket. The balance of trade is explained as the total export revenue minus total import spending (in the visible trade account).
Shifting the PPF Curve To raise the manufacturing of one good without reducing the production of the other, the PPF curve should shift outward. The PPF curve shifts outward as
1).Explain a coordination failure. Using the Prisoner's Dilemma example above, discuss coordination failure. 2). What's a Market Failure? Please define the circumstances under w
If the average variable cost curve is horizontal, what is the shape of the short-run marginal cost curve? What shape would the short-run average cost curve be?
assignment
to prepared a projects
What are the advantages of leaving the allocation of a countrys resources to the price mechanism? Ans) The main conditions needed are: 1. Either a finite number of agents or pr
what are the merits and demerits of deductive inductive methods in economic analysis?
factors that affects the volume of production
Type of total outlay
How might a “perfect” macro equilibrium be affected by (a) a stock market crash; (b) the death of a president; (c) a recession in Canada; (d) a spike in oil prices?
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