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What are the requirements for something to be considered money? Why does the dollar have value?
How growth are improved living standards The two main benefits of growth are improved living standards and technological advancement. As an economy grows, the output of
Explain the Exchange rate system in western world The most common exchange rate system in western world during previous century was the fixed exchange rate system. Up to 1930s,
Explain about a model and use of it in economics. A model is a simplified demonstration of a real situation which is used to better understand real-life circumstances. The
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what are the purposes of taxation
Two drivers --- Tom and Jerry --- each drives up to a gas station. Before looking at the price, each places an order. Tom says, "I'd like 10 gallons of gas." Jerry says, "I'd like
why is credit multiplier lower than money multiplier
In 1 to 2 sentences respond to the following comment. "Cleaning your own house is not counted in gross domestic product because it does not represent economic production."
A public good: A) Generally results in substantial negative externalities. B) Can never be provided by a nongovernmental organization. C) Costs essentially nothing to prod
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