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Is there any relation between inflation and unemployment?
The Phillips Curve was a relationship among unemployment and inflation discovered by Professor A.W. Phillips. He found that there was a trade-off among unemployment and inflation, so that any attempt by governments to decrease unemployment was likely to lead to enhanced inflation. This relationship was seen by Keynesians as a justification of their policies. Though, in the 1970s the curve began to break down as the economy suffered from unemployment and inflation rising together (stagflation).
Consider an economy with high innovative potential, but where saving is insufficient to fund innovative investments. Use Garrison's capital-based macroeconomics to explain how more
Economic Cycle The economic cycle is the long-standing sample of alternating times of economic growth (expansion) and decline (recession), followed by changing economic indica
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Determine the industrial core of world economy The industrial core of world economy saw its level of material productivity and standards of living explode in the 19th and 20th
Determine the Cross Elasticity of Demand Measures the responsiveness of demand for good A to a given change in the price of good B. It is an significant piece of information to
If producers expect future prices to enhance, current supply will decline in favor of selling inventories at higher prices later. In other words, supply will reduce (a shift to th
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for the total product curve why is it when you reach at maximum adding more input leads to decline in output?
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would a rational producer be concerned with the average or marginal product of an input in deciding whether or not to hire the inputs?
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