Unformatted text preview: • It avoids the problem of long-term shifts in the total economic conditions, such as in the levels of real national income. • Microeconomics makes assumptions about the constancy of the size of national income and employment. • As a result of this, microeconomics becomes a partial equilibrium analysis ....
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This note was uploaded on 11/26/2011 for the course ECONOMIC ec 201 taught by Professor - during the Fall '10 term at Montgomery.
- Fall '10