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Axiom of completeness: Consumer's choice is complete. Implication: Since consumer is rational, she must have a unique preference relation. That means the consumer choice is ei
Do neoclassical economists view prices and wages as stickly or flexible
In order to encourage you to take interests in the current affairs in business, and have more concerns about the real world problems (which is what economics is about), you are req
A vital question is whether the equilibrium we have identified in labor market (with a high unemployment rate) can remain in long run. Will there not be adjustments which will take
Deposit K4000, liquid asset k1000, loans K4000. what is current liquid asset?
What is Purchasing power One problem in using exchange rate when comparing GDP per capita between countries is that is fluctuates quite a lot. A way of avoiding dependence on
A hospital has contracted with and HMO to provide acute care impatient services for $1000 per day, subject to a 10% withhold. The proposed budget for inpatient services is based up
What was Real GDP for 2009? What does GDP tell us? How did GDP change from 2008? What caused these changes? What was GNP for 2009? What is the difference between GDP and GNP?
show on the market for cheese that impact of what happened in the milk market.
Let us now see a bit more closely how monetary policy works. See Figure Figure The initial equilibrium at point E is on the initial LM schedule that corresponds to a
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