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Assuming an economy with no government and no foreign trade. Measure GDP for the following output scenario:
There are three firms: firm A is a minning company, firm B is a steel producer and firm C is a car manufacturer.
In a specific year firm a sells Rs. 100 million worth of iron ore to firm B, firm B sells Rs. 200 million worth of steel to firm C and firm C sells Rs. 500 million worth of cars to general public.
If there are no alters in inventories, no taxes and no other producers in the economy, what is GDP?
Use the distinction between the charasteristics of private and public goods to determine whether the following should be produced through the market system or provided by the gover
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when domestic currency becomes more valuable in terms of foreign currency, the domestic currency is said to have
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How can we determine fixed exchange rate If a nation has a fixed exchange rate (say against a specific currency), the government or central bank may change this fixed exchange
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What are the comparative benefit The idea of comparative benefit defines that a nation must specialise in the industries in which it has a comparative advantage. Comparative be
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