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Why are Economic Models uses for Trade-offs and Trade?
Simplified representations of actuality
a. production possibility frontier
b. comparative advantage
c. circular-flow diagram
Positive economics verses normative economics
While economists agree and why they occasionally disagree.
In real life, the operation of simple multiplier is affected by many leakages. Leakages in the multiplier arise out of the following reasons: (1) Saving: If all the income is sp
REASONS TO NATIONALISE SARB
Explain the facts or economics rate Boom: The period leading up to the peak of the cycle when an overheating economy is experiencing high GDP growth and inflationary pressures
Ask question difference between static multiplier and dyanamic multiplier
Granting a loan: When commercial banks lend, they create money. This can be explained by extending the hypothetical example of Bank
what do we mean when we say export are exogenous and import are endogeneos?
How can consumers become better educated about the products they are considering for purchase? To what extent do you personally go to acquire the best information available?
Some scholarly papers have shown that growth from trade in developing nations can make the country worse. Can this happen? If so, describe the conditions required for this situatio
The following Cobb-Douglas production function is used to describe the output generated by a local government maintenance agency. Q = αL β1 K β2 E β3 Where L represents numb
REVEALED PREFERENCE APPROACH The downward slope of the demand curve was justified on the basis of utility derived by the consumer. But specification of consumer tastes in form
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