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Determination of all endogenous variables  We can explain how all the endogenous variables are determined in below figure:  Figure: The Keynesian model with the Phillips c

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Determination of L in the cross model As firms will produce less than Y OPT , they require less labor than L OPT . We can determine exactly how much L they need in order to pro

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Project feasibility study is needed to make a decision whether the project proposal is technically and economically possible. After finalization of the project feasibility report b

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Growth of Trade: As far as the growth of exports and imports are concerned,  it is evident  from Table 17.2  that India has performed better than the world growth  rates  in

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During the year, Calabash Clinic made a $50,000 cash payment toward its bank loan which it had previously recorded; $40,000 was for principal, and $10,000 was to pay the full amoun

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How is economics works with interaction of individual choices? Principles behind the interaction of individual choices: 1. There are gains through trade. • Specialization

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Some countries that supply oil to petrol manufacturers are located in or near the Middle East, others are not located in or near the Middle East. (i) Does the war benefit or har

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What is the difference between merchantilism and absolute theory?

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