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Suppose the economy is in long-run equilibrium. If there is a sharp increase in the minimum wage as well as an increase in taxes, then in the short run, real GDP will
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In microeconomics, the point at which supply and demand meet is called the blank price
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Credit card can be a wonderful item to have. however, they can also create problems. how can individuals protect themselves from financial difficulties when they make purchases with credit? what should someone do if they experience credit problems?
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Exhibit 34-9 country x country y good a good b good a good b 300 0 60 0 200 10 40 30 100 20 20 60 0 30 0 90 refer to exhibit 34-9. in the no specialization-no trade case, suppose country x produces and consumes 100 units of good a and 20 units of good b. country y produces and consumes 20 units of good a and 60 units of good b. if the two countries specialize and trade, and the actual amounts traded are 125 units of good a for 25 units of good b, how many more units of good a will country y consume by specializing and trading
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Suppose the economy is in long-run equilibrium. If there is a sharp increase in the minimum wage as...
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