Answers created by Mariam Onsi

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• Why do you suppose mercantilist ideas about gold were eventually given up?
  
• Which is a better measure of price values for goods and services - nominal or real and why?
  
• What are the differences between a market of labor and one of capital?
  
• Why is it important to review the determinants of economic growth in a developed and underdeveloped country?
  
• How can allocative efficiency be achieved?
  
• How do the income and substitution effects affect quantity demanded for luxury goods?
  
• When wages increase, what would happen with respect to income and substitution effects for goods and services??
  
• How does exports lead to economic growth and increased financial capital flows?
  
• How do you solve # 5b + 2 = 17#?
  
• Is it possible that the aggregate supply (AS) curve be negative? Why or why not?
  
• What is an example of an Income and substitution effect graph?
  
• What determines the demand for and supply of a currency in the foreign exchange market?
  
• How do you simplify #( 5a^2 + 20a) /( a^3-2a^2) * ( a^2-a-12) / (a^2-16)#?