Elucidate the overview of Business Cycle
Elucidate the overview of Business Cycle?
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1. The United States’ impressive long run economic growth has been interrupted by periods of instability.
2. Uneven growth has been the pattern, with inflation often accompanying rapid growth, and declines in employment and output during periods of recession and depression.
Elucidate facilitating factors that explain the growth of trade?
Illustrate Professional and personal applications?
What is the basic principle of comparative advantage?
When Gene can make three pairs of cowboy boots per week or one saddle whereas Roy can make either two pairs of boots or two saddles, Gene will form boots whereas Roy makes saddles according to the: (i) Law of Occam’s Razor. (ii) Principle of comparative advantag
What is the scientific method and how does it relate to theoretical economics? What is the difference between a hypothesis and an economic law or principle?
Illustrate the changes in Demand, Supply and Equilibrium?
Illustrate the several determinants of demand besides price which affect demand?
Patent rights: It is a unique license or right granted to a company or an Individual to make a specific product or utilize a specific technology.
The activities of speculators tend to, in the long run: (w) decrease the volatility of prices. (x) attract legal attention resulting in imprisonment. (y) increase the level and volatility of prices. (z) yield tremendous profits and raise costs to cons
A perfectly competitive firm produces 3,000 units of a good at a total cost of $36,000. The cost of each good is $10. Calculate the firm's short-run profit or loss. w) loss of $6,000. x) profit of $6,000. y profit of $30,000. z) There is insufficient
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