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How might an accurate value for the multiplier aid a government in setting fiscal policy? Any given multiplier will enhance national income at a given rate times enhance in gov
Sample Survey and Test Marketing: Under this method some representative households are selected on random basis as samples and their opinion is taken as the generalized opinio
how can we bring in the marginal propensity to consume
in aid of a diagram explain the concept of diminishing returns in production
Risk Averse: - A person who prefers certain given income to risky income with same expected value. - A person is careful risk averse if they have a diminishing marginal ut
Slutsky's Theorem: Graphical Presentation We prove here that own price effect is the sum of own substitution effect and income effect for a price change, which is known
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An economy can produce a maximum of either 28 million tons of wheat or 7,000 automobiles, or various intermediate quantities, as depicted in the table below:
What are the possibilities of returns to scale in production technology? Three possibilities are there as: technology exhibits (a) constant returns to scale; (b) decreasing ret
how might opportunity cost help to explain the pattern of international trade?
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