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Introduction of labour market
A vital macroeconomic variable is the total amount of labor which is used in a certain time period. Amount of labor and amount of capital are significant explanatory variables for total production and GDP. Another reason for importance of the amount of labor is that it's related to unemployment rate - a macroeconomic variable that is clearly important.
Economists estimate the short run elasticity of demand for a Chipotle burrito is -2.25. i) What degree of elasticity does Chipotle burritos exhibit? ii) A 1% change in
Including different interest rates with different maturities would complicate the models however it wouldn't buy you very much. Because interest rates with different maturities are
Enumerate the statement- Interest rates with longer maturity Since loans with longer maturities are substitutes for overnight loans, the central bank also has some control o
Two drivers --- Tom and Jerry --- each drives up to a gas station. Before looking at the price, each places an order. Tom says, "I'd like 10 gallons of gas." Jerry says, "I'd like
One constraint in our economy is time. As a society, we make choices about the allocation of time between work and other pursuits. In the US, most workers are eligible for overtime
Explain how inflation unemployment trade-off is not feasible under adaptive expectation.MEC002
Explain the apparent paradox that saving money is good for the individual but might be bad for the economy. Considering the circular flow diagram how is this relevant to public pol
An online stock trading company makes part of their revenue from clients when the clients trade stocks therefore, it is important to the company to have an good idea of how many tr
What is Trade liberalisation Trade liberalisation is the removal of barriers to trade. This has mainly taken the form of restrictions created by national governments like quot
Q. Explain money market and price changes? The money market and price changes The money demand curve will shift to the right (left) in themoney market diagr
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