Macroeconomics – 2. The Aggregate Supply-Aggregate Demand Model and the Classical-Keynesian Debate
The Classical versus Keynesian controversy is primarily a dispute over what? State Say’s Law. What was Thomas Malthus’ critique of…
Microeconomics – Lecture 4. Supply and Production Theory
Illustrate the production function algebraically and explain its components. What does the production function specify? Define the short run. Define…
Microeconomics – 2. Supply, Demand and Equilibrium
Why does quantity demanded tend to fall as price rises? Suppose the average income of consumers rises. What happens to…