ABU DHABI / WAM Etihad Airways, the national airline of the United Arab Emirates, has ...
Read More »Econ 101 might be wrong about supply and demand
Noah Smith As you might expect, economists tend to talk about lots things in terms of supply and demand. Macroeconomics is no different. The basic model of recessions and booms that gets taught in undergrad classes relies on the notions of aggregate demand and aggregate supply. Just like the demand for oranges is the number of oranges people want ...
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