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Republicans, who may have a bulk in your house, would like to cut federal government shelling out and therefore are refusing to raise the debt ceiling until eventually Biden and Democrats conform to shelling out reductions.

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Concern 1. Outline and explain the expression ‘value elasticity’. Along with reference to 2 unique goods, 1 by using a cost inelastic demand from customers curve and A further selling price elastic desire curve, illustrate the industry value and quantity of The 2 items with reference towards the desire curve. (forty five%)

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