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What is the key difference between the Keynsian and the Neo-Classical schools of thought? Explain using a diagram.

The Neo-Classical school of thought is built under the assumption of prices being flexible in both directions(upwards or downwards). On the other hand, Keynes suggested that wages are inflexible downwards, r...
GM
Answered by George M. • Economics tutor
5719 Views

Given h(x) = 9^x + 9 and g(x) = 10*3^x, find {x | h(x) < g(x)}.

This question is asking to find the values for x, such that h(x) is strictly less than g(x). We can write this as 9^x + 9 &lt; 10 3^x and solve for x as follows. 9^x + 9 &lt; 10 3^x =&gt; 3^(2x) - 10 3^x + 9...
CM
Answered by Carlo M. • Maths tutor
4102 Views

Prove the following identity: (1+cos⁡(x)+cos⁡(2x))/(sin⁡(x)+sin⁡(2x) )=cot⁡(x)

Straight away we notice that two trigonometric terms on the left hand side have 2x but there are no 2x on the right hand side therefore we realise that this question will require double angle formulae. If yo...
JB
Answered by Jessica B. • Maths tutor
20016 Views

Given 1/2 + 1 + 2 + 2^2 + ... + 2^10 = a*2^b + c, find the values of a,b,c.

Consider the Left-Hand-Side (LHS) of the equation first. LHS: 1/2 + 1 + 2 + 2^2 + ... + 2^10. We identify this as a geometric series by noticing that dividing any term u_(n+1) by the preceding term n the res...
CM
Answered by Carlo M. • Maths tutor
4278 Views

How can the central bank affect economic activity using monetary policy

A particular economy can go through many downturns and upturns in what is called the business cycle. A central bank may wish to dampen these fluctuations by using one of two tools. The first one is changing ...
MS
Answered by Martin S. • Economics tutor
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