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If the price of a good rises, what are people likely to do? a Substitute a less expensive good b Buy more of the good c Buy more of all goods because of added buying power d All of the above Other things being equal, a decrease in the cost of producing a good will cause which of the following? a An increase in the opportunity tangency of producing the good b A rightward shift in the supply curv c A decrease in the quantity supplied d An increase in the price of the good Which of the following is an unintended consequence of rent controls? a lower rents for tenants b a short of rent-controlled apartments c a surplus of rent-controlled apartments d All of the above.
why is international trade important for south Africa
Oil price shocks lead to large adverse supply shocks in the macroeconomy, infer Dornbusch et al (2008) who define an adverse supply shock as; ‘one that shifts the aggregate supply
Which is a better measure of economic well-being real GDP or Nominal GDP? Ans) Well real GDP takes into account the inflation rate and therefore is more accurate at recording th
Using an aggregate demand and supply diagram, explain how each of the following scenarios affects the equilibrium price level and aggregate output a/Consumers expect a recession b/
Marginal propensity to SPEND refers to: a. a nation's additional spending on a good per an additional unit of expenditure. b. a nation's additional consumption based on a unit incr
what is the importance of the quantity theory of money
y=c+c1(y-t0-t1y,r)+i+g
is/lm curve
Illustrate the circular flow of income and expenditure according to their models ( classical and keynesian)
Firstly, it is imperative that I investigate the stochastic properties of each series considered in the model prior to estimating the effects of oil price shocks on macroeconomic a
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