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What should be the decent/appropriate growth rate in any country?
Answer: A growth rate of among 2-3% is considered normal for mature developed countries; for LICs, 5-7% is considered healthy and 7%+ is excellent.
Micro economics is the study of individual unit of an economy
define for whom to produce
Consider that the government tells a large monopolistic firm that maximizes profits that it has to pay a fee to the Reelect the President Committee same to one third of its total p
state 3 major assumptions which a production posibility is based
Price elasticity of supply – Computes the percentage change in quantity supplied resulting from a 1 percent variation in price. – The elasticity is usually positive as price
differance between capitalism and socialism
In the long-run equilibrium, each firm in a perfectly competitive industry will choose the plant size associated with minimum long-run average cost. Is this TRUE or FALSE? And why?
What are the economic implications of income inequality? How can economic theory be helpful to analyze the causes and impact of income inequality? What are the concerns and how can
examples of quantity demand when prices increase
what is the explanation about supply analysis?How to understand?
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