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Illustrate the about term the open economy in short. The Open Economy: a. A closed economy is an economy which does not trade goods-services as well as assets. b. The Uni
Classical Quantity Theories Quantity theories have had a long history and a widespread use in economics. As originally formulated these were not explicitly designed as theories
Explain production as an income generating activity. What are the principal difference among government purchases of goods & service and transfer payments? Why are in
effects of tax increase on the gross domestic product
#C=100+0.8yd G=100 T=0.25y X=150 M=0.25yd 1) What is the level of equilibrium national income? 2) Estimate the budget surplus or deficit at the equilibrium national income. 3) Deri
THE FOUR BIG MACROECONOMIC ISSUES AND THEIR INTER-RELATIONSHIPS 1. Link between growth/development and the various factors of production of the commodities: Before we mov
The analysis of the speculative demand for money reveals the importance of the level of wealth. Explain this assertion in detail
Diagramatic explanation of pareto optimality
If the indifference curves are straight lines with slope s, and the budget constraint is given by: x*p1+y*p2 = m, then describe the optimal choice of the consumer.
The NJ Bureau of Employment gathered the following sample information on the number of hours unemployed workers spent looking for work last week. Hours Spent Searching Number of Un
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