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Bill Phillips was an economist from New Zealand who spotted that when employment levels are high, wages rise faster, therefore people start spending more money, therefore, boosting aggregate demand. This ...

using supply & demand diagram, show that the price of oil will rise due to an increased demand for oil. ceterus paribus assumption being made. can discuss other factors that may or may not make this e...

One of the most exciting parts of the Economics course is discovering the way in which various things that you will study interrelate. If European productivity were to increase, then the unit price of the...

Discussion of monopolies should be based around the motivations of monopolies and whether such desires of those elites in the industry in question benefit or degrade society as a whole. 

A monopoly...

Supply is the quantity of a certain product that a producer is willing and able to supply into a market at a given price, in a given time period. Consider the market for rice: an abnormally fruitful harve...