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Define what investment is: spending by firms on capital goods (eg. machinery). Then analyse the effect of the change in the question: Investment is component of the equation Y=C+I+G+NXIncreasing investmen...

Stationary points of an equation are found where the gradient of the tangent at this point equals zero. A diagram can illustrate this. To find them differentiate the given equation (which gives the gradie...

People tend to agree with the opinion of the majority, or behave in a similar way to the majority, in order to gain acceptance and approval, and avoid rejection. An example of this is the Asch experiment,...

The justified true belief (JTB) account of knowledge purports to give the necessary and sufficient conditions for an subject's having knowledge. Precisely, the account states that a subject S knows a prop...

The Phillips curve shows the trade-off that must be made between inflation and unemployment . There is an inverse relationship between the two variables, with lower unemployment rates corresponding to hi...