Macroeconomic Equilibrium: IS-LM and WS-PS Analysis
IS-LM Model in a Closed Economy
QUESTION 1:
Consider a closed economy defined by the following equations:
- Consumption (C): 200 + 0.4(Y – T)
- Investment (I): 150 + 0.1Y – 1000(r + x)
- Government Spending (G): 250
- Taxes (T): 100 + 0.2Y
- Real Interest Rate (r): 0.05 (Set by the Central Bank)
- Risk Premium (x): 0.02
Equilibrium Output and the IS Relation
To find the IS relation, we start from the goods market equilibrium condition (Y = Z):
Y = [200 + 0.4(Y – (100 + 0.2Y))] + [150 + 0.1Y – 1000(r + x)] + 250
- Calculating
Database Schema and Advanced SQL Query Solutions
Relational Schema Functional Dependencies (FDs)
Person Entity
Schema: person (per_id, name, zip_code, email, gender, phone)
per_id→name, zip_code, genderemail, phone→per_id
Skill Entity
Schema: skill (sk_code, title, description, level_type)
sk_code→title, description, level_typetitle→description
Company Entity
Schema: company (comp_id, address, zip_code, website, industry_group)
comp_id→address, zip_code, website, industry_groupwebsite, industry_group→comp_id
Takes Entity (Course
Read MoreAnalysis of Frankenstein and Romantic Poetry
The Narrative Structure of Frankenstein
The novel Frankenstein by Mary Shelley uses a frame story structure, where three different stories are connected:
- Robert Walton’s letters begin and end the novel, creating a frame around the main story. Walton is a ship captain writing to his sister about his journey to the Arctic.
- Victor Frankenstein’s story appears when he meets Walton and tells him about his life, his ambition, and the creation of the creature.
- The creature’s story is heard within Victor’s
WBS & RACI (RAM) to Prevent Scope Creep in Projects
WBS, RAM (RACI) and Project Controls
| Concept | Explanation |
|---|---|
Work Breakdown Structure (WBS) |
|
Responsibility Assignment Matrix (RAM) |
|
Chinese Civilization: History, Culture & Major Achievements
Chinese Civilization — 16 Marks
Chinese civilization, one of the world’s oldest continuous cultures, developed along the Huang He (Yellow River) around c. 2000 BCE. Known for its dynastic rule, philosophical systems, architectural achievements, writing system, and technological innovations, it has contributed greatly to world heritage.
1. Geographical Setting
- Originated in the fertile Yellow River Valley.
- Expanded to the Yangtze River region.
- Natural barriers like the Himalayas, the Gobi Desert,
Letter Templates, Article & Short Story Examples
Formal Letter (Carta Formal)
Dear Sir or Madam, I am writing to inform you about [motivo], which has recently become a matter of concern. Little did I expect that the situation would develop in such an unexpected way, especially considering the information I had previously received. To begin with, […] Despite my efforts to address the issue promptly and follow the correct procedures, the outcome has not been satisfactory. Furthermore, I would like to request [propuesta]. I would greatly appreciate
Read MoreExpress Authentication Methods: Syntax and Results
1. Basic Authentication (Stateless)
What it is: A very simple authentication where a username and password are sent in the Authorization header (Base64 encoded). Not safe unless over HTTPS.
Example (express-basic-auth)
const express = require("express");
const basicAuth = require("express-basic-auth");
const app = express();
app.use(
basicAuth({
users: { admin: "pass123" },
challenge: true,
unauthorizedResponse: "Invalid credentials"
})
);
app.get("/", (req, res) => {
res.send( Read More
Food Economics: Demand, Supply, Elasticity & Population
Lecture 7: Demand, Supply, Elasticity
Lectures:
Lecture 7: Economic frameworks to study the world food problem — demand, supply, and elasticity.
Demand Curve
The demand curve follows the Law of Demand: as price falls, quantity demanded rises, producing a downward slope. This occurs because of:
- Diminishing marginal utility — less satisfaction from extra units;
- Heterogeneity in demand — different people have different willingness to pay.
The entire demand curve can shift based on changes in consumer
Read More7 Cs of Business Communication for Legal Professionals
Effective communication is a vital component of business success, especially in the legal and corporate environment. Business communication ensures smooth coordination, builds professional relationships, and supports decision-making. For law students and legal professionals, mastering business communication is essential when dealing with clients, organizations, courts, and regulatory bodies. The 7 C’s of Business Communication—Clarity, Conciseness, Concreteness, Correctness, Completeness, Courtesy,
Read MoreCivil Procedure Code: Jurisdiction, Transfer, Decrees & Venue
Q1: Types of Jurisdiction under CPC
The Civil Procedure Code (CPC) recognizes several types of jurisdiction, which determine a court’s authority to hear and decide cases. Here are the main kinds:
Types of Jurisdiction
- Subject-Matter Jurisdiction: Refers to a court’s authority to hear cases of a specific type. For example, a Rent Controller cannot decide divorce cases, and Consumer Forums handle cases related to consumer rights and disputes.
- Pecuniary Jurisdiction: Based on the monetary value of the
