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Illustrate the overview and importance of macroeconomics?
After familiar with this illustration, able to know:
a. An overview of macroeconomics is the study about the economy like an entire and how this is different by microeconomics.
b. T he significance of the business cycle and why policymakers look for reduce the severity of business cycles.
c. What long-run development is and how this determines a country’s standard of living
d. The importance of deflation and inflation and why price stability is preferred
e. What is unique regarding the macroeconomics of an open economy, an economy which trades goods, services and assets along with the other countries
Explain the facts or economics rate Boom: The period leading up to the peak of the cycle when an overheating economy is experiencing high GDP growth and inflationary pressures
what would be effect of fiscal and monetry policy on price and output level if meges are flexible and rigied?
Consider the following: "The physiocrats spoke of the natural order and favored laissez-faire yet strongly supported the absolute authority of the monarchy." Analyze this supposed
Major fiscal objective of Chancellor George Osborne The major fiscal objective of Chancellor George Osborne when coming to office in May 2010 was to remove the UK's structural
y=c+c1(y-t0-t1y,r)+i+g
Consider an economy characterized by the following Cobb-Douglas production function: Y=4K 1/4 L 3/4 Where K and L represent physical capitaland labor, respectively. Assume t
There is a joke among economists that children are an "inferior good." In many countries there appears to be a negative relationship between income and the number children in a hou
The Government, Rest of the World and the financial markets Total expenditure of the government may be divided into two parts: transfers to the private sector and consumpti
No indifference curve can intersect due to all points on indifference curve are ranked equally preferred and ranked or less more preferred than each other point on the curve.
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