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What are the possible negative consequences of economic growth in a developing country? Define economic growth as an enhance in GDP during a given time period, and then define
Discuss whether inflation or deflation is the more serious problem for an economy. Inflation is a consistent general enhance in the price level, whereas deflation is a consiste
Consider the model of corruption explored by Shleifer and Vishni’s where there is one government-produced good X. There is a demand for that good described by the inverse demand eq
Q. Define government surplus? Surplus, Government:It's a government surplus exists when a government's tax revenues surpasses its total spending (including both program spendin
What are the "three basic economic questions" that economists often address when examining how much economic output is formed? The three basic questions are: a) what is prod
When measuring price levels in the economy (such as when calculating the CPI index), why is a weighted average used? Because we require giving greater emphasis to prices at whi
During the 1990s, technological advance reduced the cost of computer chips. Explain, with the use supply and demand diagrams, how the following markets are affected in terms of pr
1. How does the marginal social benefit curve of a common resource compare to the marginal social benefit curve of positive externality from a mixed good? Highlight the difference
a description of engineering production function
How equilibrium is achieved under monopoly
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