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QUESTION Explain the meaning of classical dichotomy, neutrality of money and Walras law. b. "In a Walrasian general equilibrium model with money as a unit of account, only r
You are allocating money between pizza and Chinese food over a month. You like a variety. (a) Letting C denote the quantity of Chinese meals you consume in a month and P denot
How static multiplier can be shown diagramatcally
You own a small retail business that produces a product that is slightly different from that of your many competitors. Your firm is currently making an economic profit. The absolut
QUESTION (a) State whether the following statements are TRUE or FALSE. Clearly explain your answer. (i)The Keynes liquidity Preference theory stipulates that money demand is
Does the structure of the population issue? Dependents into an economy, children as well as old people are assists by the economically active. Dependency ratio uses to measure
Draw the line of competition
Define the effectiveness of World Bank in promotion of development? The World Bank has a clear set of goals: to assist countries meet the UN Millennium Development Goals. A ma
opportunity cost and decision making
There are two agents, A and B. Both have preferences represented by a von Neumann-Morgenstern utility function u(c s j ) = ln (c s j ), where c s j is consumption of agent j in
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