Define cyclical fluctuations
Define cyclical fluctuations?
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Durable goods output is more unstable than non-durables and services because spending on latter usually cannot be postponed.
What is the opportunity cost of attending college? In 2000, nearly 80% of college-educated Americans held jobs, whereas only about 40% of those who did not finish high school held jobs. How might this difference relate to opportunity costs?
Enumerate and briefly discuss the main economic functions of government. Which of these functions do you think is the most controversial? Why?
The market system responses the “for whom?” query with: (i) distributing goods on the basis of require. (ii) using central planning to coordinate production decisions. (iii) catering to consumers with adequate resources to demand goods. (i
Explain and give an illustration of (a) the fallacy of composition; and (b) the “after this, therefore because of this” fallacy. Why are cause-and-effect relationships difficult to isolate in the social sciences?
Economic efficiency for society needs which the: (i) opportunity costs of all goods be at their lowest possible values. (ii) maximum probable benefits are acquired for given costs. (iii) greatest possible net benefits are squeezed through available re
Who are the major players in international trade today? Besides Japan, what other Asian nations play significant roles in international trade?
Question: Describe the present economic crisis situation in Europe. Why has it been so difficult for the Europeans to find a solution to this problem? Comment on what implications the crisis may have for the rest of the world i
Illustrate the several determinants of demand besides price which affect demand?
Elucidate facilitating factors that explain the growth of trade?
How the government can increase the overall effectiveness of the market system?
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