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5/10/17: Comparative & Absolute Advantage
Specialization Individuals & countries can be made better off if they will produce in what they have comparative advantage & the...
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Foreign Exchange- The buying & selling of currency. Any transaction that occurs in the Balance of Payments necessitates foreign exch... -
The AS/AD Model The equilibrium of AS & AD determines current output (GDPr) and the price level (PL). Full Employment Equilibri... -
Tools of Monetary Policy Open market operation Reserve requirement The Reserve Requirement The FED sets the amount that banks mus...
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