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Question 1: Describe the main features of Harrod-Domar Growth model. How does the Harrod Domar model describe the occurrence of trade cycles?
Marginal revenue is not below the market price by the perspectives of simply: (i) monopolistic competitors. (ii) monopolists. (iii) cartel members. (iv) pure oligopolists. (v) pure competitors. Can
A) Using appropriate tables and diagrams explain how price and quantity is determined in a free market economy. B) Briefly explain using the diagrams in 4.1 the followings two scenarios C) When
Any drop in interest rates caused through people’s increased willingness to save, which will cause: (w) the rate of return schedule reflected in I0 to shift to the right. (x) the rate of return schedule reflected within I0 to shift to the left.
‘In the real world there is no industry which conforms precisely to the economist’s model of perfect competition. This means that the model is of little practical value
When Christmas tree farming is a decreasing cost industry and this firm is typical, in that case an increase in the market demand for Christmas trees will give in a long run equilibrium price: (1) greater than P1. (2) less
This purely competitive brickyard as in below graph on the average experiences an: (w) economic profit of about $135 per day. (x) economic loss of roughly $150 per day. (y) accounting profit of less than $100 per day. (z) accounting loss of more than
Normal 0
The increase in demand for tartar sauce would be a probable result of: (1) A reduction in the price of fish. (2) An raise in the price of tartar sauce. (3) A bumper crop of the tartar sauce. (4) A raise in the price of fish. (v) The reduction in price
Elucidate the Primary functions of money. Answer: Primary functions: 1) Medium of Exc
Define deficient demand or deflationary gap: Deficient demand occur whenever AD is less than AS at the level of full employment equilibrium
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