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Summary of the Phillips curves
In neo-classical synthesis, augmented Phillips curve is known as the short-run Phillips curve. It is presumed to be stable as long as expectations of future inflation don't change. To summarize, we have three Phillips curves:
If the opportunity cost of producing extra units of one good (expressed in terms of the amount of another good that is sacrificed) remains constant, then the shape of the productio
Suppose the consumption function is C = $500 billion + 0.55Y and the government wants to stimulate the economy. By how much will aggregate demand at current prices shift initially
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how does government regulate externalies
ABSOLUTE ADVANTAGE
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circular flow of national income?
disuss with an aid of a diagram the kinked demand curve
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