Predicting inflation in high-income countries
Would you expect that quantity theory would do a better job of predicting inflation in high-income countries such as the United States or Germany or in less developed countries such as Kenya or Zimbabwe in your opinion?
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Explain how opportunity cost is used in decision making. Discuss why is it important to think about what is forgone when the decisions are made? Write down an example of a decision that you made recently where you had to think about the op
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