The economic growth of the Romania is explain by improvements in total factor productivity. Between 1991 and 2004 the contribution from labor was negative as a result of labor shedding. Due to periods of contracting investment followed by weak capital accumulation, on average there was no...

The behaviour of the economic agent – customer is a rational type of behaviour in order to maximize the satisfaction achieved through the use of commodities. In order to determine a rational behaviour, we start from the premise that every costumer has complete and accurate information on: the...