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Q. Explain Nominal GDP?
Nominal GDP: Nominal gross domestic product measures total value of all the services and goods produced and traded for money in the formal economy, evaluated at their current money prices. Nominal GDP can grow from one period to the next due to an increase in actual (real) output or/and due to an increase in average prices (which is, as a result of inflation).
What is the theory of Second Best? Prove the theorem with the help of a diagram.
This is what this paper should be about 1) In the first paragraph analyze what you most learned from the course to reflect on the statement below. 2) In each separat
In the case of a tax abolition on food staples, what are the short run and long run effects?
What is micro static analysis?
explain the relationship between ATC,AVC and MC by using diagram
do you give solutions
BUREAUCRATIC PROBLEMS: Bureaucratic problems encountered as hurdles in the implementation of economic policies are listed below: • Low levels of efficiency, effectiveness,
yt =a+fyt-1 +ut, ut =et +?et-1, where et is independent white noise assume the process is stationary. Will OLS generally provide you with consis- tent point estimates of f? Can y
About four years ago, Kanye West performed at the UIC Pavilion. General admission tickets were priced at $30. Concert promoters say that price elasticity of demand for general admi
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