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Suppose the own price elasticity of demand for good X is -5, its income elasticity is 2, its advertising elasticity is 4, and the cross-price elasticity of demand between it and good Y is 3. Determine how much the consumption of this good will change?
How are individual makes choices? Fundamental principles behind the individual choices are as follows: 1. Resources are scarce . 2. The real cost of anything is what y
The rent control agency of New York City has found that market demand is QD=100-5P With quantity measured in tens of though sands of apartments and price, the monthly rental rate,
Q. What is money and what is not money? If you are trying to conclude if something is money, basically consider whether it would be accepted in most stores as payment. Then you
From California to New York, legislative bodies across the United States are considering eliminating or reducing the surcharges that banks impose on noncustomers, who make $14 mill
It is sometimes asked whether credit cards are money since many purchases are made using these. Credit cards are a means of obtaining credit and using this to finance expenditure,
The Government, Rest of the World and the financial markets total expenditure of government can be divided into two parts: transfers to private sector and consumption.
example on the calculation of IS LM Curve?
explain circular flow of income in an open economy
# ???? .. difference between gdp at market price and nnp at factor cost
Briefly explain the dynamics of the 2007 financial crisis in terms of adverse selection and moral hazard.
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