Advanced Economics O/X
Core principles of micro and macro economics
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5 sample prompts · answers & explanations live in the app
According to the law of demand, all else equal, when the price of a good rises its quantity demanded tends to fall.
Inflation is a general and sustained increase in prices that reduces the purchasing power of money.
Opportunity cost is the combined value of every alternative given up, not just the next-best one.
Raising the central bank's key interest rate generally tends to cool borrowing, spending, and investment.
GDP measures the market value of final goods and services produced within a country over a period.
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