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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).
Critically appraise the IS-LM and the AD-AS models as analytical tools in explaining the macro-economy (the business cycle). In preparing your essay, please think about the followi
determinants of demand and determinants of supply
Point elasticity: It refers to measurement of elasticity on a point On a demand curve. Point elasticity helps in measuring elasticity where change in price and quantity is infinite
Why firm charges different prices to different consumer? Every firm needs to maximize its profit. When goods are sold to different customers, each customer negotiate price of
concept of supply
Q. Explain about Neoliberalism? Neoliberalism: A modern, harsher incarnation of capitalism that became dominant globally beginning in early 1980s, largely as a reaction to inte
RECENT DEVELOPMENT OF DEMAND THEORY: The basic theory of consumer behaviour discussed in the previous unit can be extended in many directions, and can be applied to cover opt
Public Expenditure Trends: The expenditure pattern of the Government sector has been generally guided by the concern about the role of the State in the economy, both as invest
1) Vitamin A Vitamin A has been chosen as the vitamin to be included in the supplement since it has a role in several functions some of which as follows: 1. Helps in proper vision.
The demand curve for gasoline is P = 200 - 10Q. a. Find the elasticity of demand for a quantity of 8. Does this number imply that quantity demanded is sensitive to price chan
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