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How is the wrong conclusion result in necessary condition not in the sufficient condition?
This is often heard that the market institution must not be used based onto the fact that several countries are market economies but remain poor. The cause this logic results within a wrong conclusion is which they did not realize the adoption of a market mechanism is just an essential condition for a country to be rich, although is not a sufficient condition. Becoming a moneyed country also based on other factors as like political system, culture and social infrastructures. Additionally, no illustration of a country can be established so far that this is rich in the long run, which is not a market economy.
The positive statement state fact whereas normative statement provides opinions or value judgments. Differentiating these two statements can void many needless debates.
when total production fall what,s the status of average product and marginal product
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describe engineering cost theory in detail
In the short run, the size of the plant is fixed whereas in the long run a firm can adjust its plant size. One of the choices in the long run will be the short run plant size. That
Please write an essay (2-2.5 pages) based on this paper You">http://www.nobelprize.org/nobel_prizes/economics/laureates/2001/akerlof-lecture.pdf You pick one over 6 macroeconomic
What caused the productivity slowdown? Observers have pointed to 4 factors--Oil prices, baby boom, increased problems of economic measurement and environmental protection expe
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state the law of downward sloping demand
derivation of demand curve
Frictional and Cyclical Unemployment: Frictional Unemployment: It refers to unemployment caused by changes in individual labour markets. This is the type of unemploymen
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