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When the curve that envelops the sweries of possible short-run average total cost curves is horizontal, this means that they are a. economies of scale, b. dieconomies of scale, co
THEORY OF CUSTOMS UNION: A customs union is an association of two or more countries to encourage trade. The countries making such an arrangement agree to eliminate tariffs and
MUa/MUb how it happens? and why this occur?
Define the Policies of Education Universal education--particularly universal education of girls--pays a two-fold benefit. Investments are more likely to be productive with a be
Type of total outlay
describe who gets hurt in a recession, and how.
The End of the Productivity Slowdown As computers improved and spread throughout the U.S. economy in 1970's and 1980's economists kept waiting to see the wonders of computing
Disposable Personal Income The amount of cash remaining after taxes are removed that an individual has the opportunity to spend.
1. Utilize Okun's law to answer the questions below; u t - u t-1 = -0.4(g yt - 3%) Assuming u t-1 = 7% a. Calculate the change in u (u t - u t-1 ) for each of the follo
Define law of demand. Answer: Quantity demanded increases as price falls, other things constant. In other words, "Other things remaining the same, when the price of a good r
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