Macroeconomics
Macroeconomics
13th Edition
ISBN: 9780134735696
Author: PARKIN, Michael
Publisher: Pearson,
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Chapter 28, Problem 10SPA

(a)

To determine

Identify the immediate changes in the quantity of the real GDP demanded.

(b)

To determine

Identify the real GDP changes, which is more than, less than, or the same amount as an immediate change in the quantity of real GDP.

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Discuss the different types of resources (natural, human, capital) and how they are allocated in an economy. Identify which resources are scarce and which are abundant, and explain the implications of this scarcity or abundance.
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