What are institutions?
What will be an ideal response?
Institutions are the formal and informal rules governing the organization of a society, including its laws and regulations. They are determined by individuals as members of society, place constraints on behaviors, and affect incentives. disadvantage.
Economics
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For the economy as a whole, how does income compare to expenditures? Explain
Economics
Suppose a decrease in the supply of wheat results in an increase in revenue. This indicates that
A) the decrease in quantity sold is proportionately larger than the resulting change in price. B) the resulting increase in price is proportionately greater than decrease in quantity sold. C) the demand curve for wheat must be vertical. D) the supply curve for wheat must be vertical.
Economics