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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.
What is the relationship between deposit multipier,Credit Multiplier and Deposit multiplier?
Consider the following: The city council has just approved the construction of a water park in your town. You are responsible for studying the impact of the new water park on the l
To overcome the stagnant growth it was experiencing for the past 10-15 years, Japan undertook which of the following measures? Answer Undertook programs to build infrastructure
Q. Define the Prices and price level? Prices are of great significance in macroeconomics as undeniably they are in microeconomics. Though in microeconomics we are more interest
Which of the following is considered when calculating a country's balance of payments? Military expenditures state unemployment domestic inflation rates foreign inflation rates.
Balance of Payments All countries have economic transactions with other countries. These consist of import and export of goods and services, official and private gifts and don
Employ the weights given below and suppose that 2002 is the base year with a CPI equal to 100. Suppose also that since 2002 the price of food has increased by 10 percent; the price
Explain the adjustment to the new equilibrium price from an increase in demand.
Suppose that the U.S. Department of Agriculture (USDA) administers the price floor for cheese, set at $0.17 per pound of cheese. (The price floor is officially set at $16.10 per hu
Q. What is the basic function of Central banks? A central bank is a public authority which is responsible for monetary policy for a country or a group of countries. Two signifi
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