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Non-Accelerating-Inflation Rate of Unemployment (NAIRU): This theory is a variant of neoclassical natural rate of unemployment. As in original natural rate theory, NAIRU advocates believe that unemployment can't be reduced below a certain level without sparking a continuous acceleration in inflation. Contrasting the original natural rate theory, though, NAIRU doctrine doesn't strictly define this position as "full employment." Policy prescriptions of the natural rate and NAIRU theories are practically identical (namely, don't try to reduce unemployment through demand-side measures, however as an alternative attack unions and minimum wages to allow labour markets to function more ‘efficiently').
What factors shift the Aggregate demand curve to right and what factors shift the AD curve to left? AD shifts to the right when any component of AD enhances autonomously; e.g
Factors Shifting Supply Curve -
What is economics about? Economics: Economics is a social science which studies individuals’ economic behavior, economic phenomenon, ands also how individual agents, as like
determinate equilibrium price and quantity. if Qd=7-1/2p AND Qs=1/4P-1/2
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a) Explain the conditions under which a monopolist is able to price discriminate. b) Demonstrate the relationship between a firm's marginal revenue function and its relationship
Functions of Money Money performs several important functions. It serves as a medium of exchange, a unit of account, a store of value and a standard of deferred payments. In a
TC = 1q^3 - 40q^2 + 840q + 1800 Price= $750
What is average revenue and average revenue curve Average Revenue: The average revenue is the total revenue separated by the level of output. It is therefore the price.
Perfect competition and monopoly are rarely found in the real world and thus they do not represent, for the most part, the actual market situations. Therefore, the conclusions whic
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