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a) Consider the following flows (in thousand of people) between the various labour market states in a particular month: UE = 240 000; UNLF = 180 000; EU = 190 000; NLFU = 220 000
How do you draw the demand curve Q = 100 - 50P and indicate which portion of the curve is elastic, which is enelastic, and which is unit elastic?
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 imp
How have economists traditionally defined "economic growth," and how is that different from "living standards growth"? Economists have traditionally explained economic growth
Is economics an art or a science
Inverse Demand Function: If variable factor prices changes, then the isocost line will tilt and consequently, the optimal factor requirement will be different. Suppose the wage rat
The enzymes are highly specific in nature. During enzymatic reaction the enzyme is so built that it binds to the substrate in a specific manner. The stepwise mechanism of enzyme ca
Inflation-Unemployment Trade-off under Adaptive Expectations : By the late 1960s, the inverse relation between inflation and unemployment as suggested by the Phillips curve was
if tc is 200 what will be marginal cost?
This involves the characteristics of the production human as well as non human using the product concerned. For example it may pertain to the number and characteristics of children
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