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The Money Multiplier is explained below: If you see carefully, the money multiplier is nothing but an inverse of a reserve ratio. Therefore, we can write MM = 1/rr, where rr is
How does the production possibilietes curve relate to present day economics?
Circular Flow of Income: The diagram shows Real Flow (goods and services) and Monetary Flow (Income and expenditure). The bottom pair of arrows depicts the goods market.
Explain the detail central problem of an economy?
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explain consumer equilibrium diagrammatically as well mathematically by using necessary and sufficient conditions
if the price of labour is 2000 per hour and the price of capital is 1000 per hour.is there an efficiency point of production.
definition
Mathematical Presentation of Utility maximisation: Consumer's objective is to maximise her utility by solving UMP. To solve UMP, we set the Lagrange function of the correspond
SUMMARY OF THEORY OF PRODUCTION
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