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Monetary policies
This is the direction of the economy through the variables of money supply and the price of money. Expanding the supply of money and lowering the rate of interest should have the effect of stimulating the economy, while a policy designed to reduce price and wage inflation by requesting voluntary restraint or by imposing statutory controls contracting the supply and raising the rate of interest should have a restraining effect upon the economy.
Prices of other related goods i) Substitutes: If X and Y are substitutes, then if the price X increases, the quantity demanded of X falls. This will lead to inc
Discuss the applications of Managerial economics concepts or theories in managerial decision making question..
real GDP is increasingly criticized for its alleged failure to adequately measure the standard of living. To what extent do you think this criticism is valid?
Cross-elasticity is the measure of responsiveness of demand for a commodity to the changes in price of its substitutes and complementary goods. For example, cross-elasticity of dem
Define Williamson''s Model of Managerial Discretion practice?
Organization for Economic Development (OECD) An international organization found in Paris France in 1961, to act as a worldwide forum to stimulate world trade and
The Multiplier In his theory Keynes asserted that consumption is a function of income, and so it follows that a change in investment, which we may call ΔI, meaning an incremen
producer equllibrium
Q. Describe MRPL and profit maximisation? The common rule is that firm maximises profit by producing that quantity of output where marginal revenue equals marginal costs. Profi
A cost-push inflation have as a result of workers' attempts to push up their wages. Thus, inflation does not have to be monetary phenomenon." Is this statement true, false, or unce
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