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Start learning 50% faster. Sign in nowUsual speed of the car = 240 ÷ 15 = 16 km/h Reduced speed of the car = 16 - 2 = 14 km/h Distance covered at usual speed = 240 X 0.475 = 114 km Time taken to cover first 114 km = 114 ÷ 16 = 7.125 hours Time taken to cover the remaining distance = (240 - 114) ÷ 14 = 9 hours So, total time taken = 9 + 7.125 = 16.125 hours So, additional time = 16.125 - 15 = 1.125 hours
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If input prices adjusted very rapidly to output prices as classical economists argue the Phillips cure would be
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Opportunity cost version of comparative cost advantage doctrine was introduced by
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Laffer curve predicts what happens as tax rate rises?
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In the Lewis model, what does the term “surplus labor” refer to?
