Problem 1a use the circular flow model to explain the, Ask an Expert

Economics

Problem 1:

a. Use the circular flow model to explain the concepts of injections and withdrawals.

b. Explain the concept of budget multiplier.

c. Using the concept of multiplier, show how a country's involvement in international trade impacts on its economy.

Problem 2:

a. Describe clearly what is inflation and its main causes.

b. Distinguish between the main types of unemployment.

c. Describe the relationship between inflation and unemployment in the short run and long run.

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M9587130

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