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What is the relationship between income elasticity of demand and a normal and inferior good?

Firstly, we must define what income elasticity of demand means. This is the responsiveness of the quantity demanded of a good to a change in income. A normal good is characterised by a positive income ela...

CB
Answered by Cameron B. Economics tutor
3327 Views

Explain the difference between fiscal policy and monetary policy.

Firstly, let's define each Government demand side policy. Fiscal policy is the use of taxation and Government spending to control aggregate demand and hence growth. Monetary policy is the use of interest ...

EL
Answered by Ella L. Economics tutor
3062 Views

How do you prove a mathematical statement via contradiction?

For a proof via contradiction, you would start by assuming the statement is actually false1 (even if the given statement seems inherent...

JS
Answered by Jake S. Maths tutor
3442 Views

What is the difference between CISC and RISC?

RISC has a reduced instruction set where each instruction can be executed in a single clock cycle. This means that programs often are longer to the developer but are more easily executable on lower powere...

JB
2347 Views

How to use the Italian Subjunctive

The Subjunctive expresses doubt, uncertainty, hope, fear, possibility or personal opinions. It barely exists in present day English but it frequently used in Italian. It has four forms: two simple tenses ...

SD
Answered by Sara D. Italian tutor
2039 Views

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