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What is the difference between GDP and GNP?
Gross domestic product (GDP) is the value of the total final output formed inside a country, during a given year. GDP, like all measures of national income, is a flow (as opposed to stock) figure accruing over the period of one year. Gross national product (GNP) is the value, at current market prices, of all final goods and services formed during a year by the factors owned by the citizens of a country. Thus the income earned by Pakistani citizens working in the US would be contained in Pakistan's GNP but excluded from Pakistan's GDP. Conversely, the income earned by a US citizen (individual or corporate) in Pakistan would be included in Pakistan's GDP but excluded from Pakistan's GNP. Generally, GNP = GDP + net factor income from abroad.
managerial problems related to microeconomics
Amartya Sen''s concept of poverty and welfare.
Exit Strategy The exit strategy denotes that which investors in an organizations realize all or elements of their investment, regardless of the organizations success.
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What do you mean by Consumption Set? Consumption Set: We notice a consumer faced along with possible consumption bundles within consumption set X. We generally assume that X
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how slustky equation provides neat analytical expression for substitution and income effect?
what is the basis of marginal utility
x-3y+6z=1 2x-5y+10z=0 3x-8y+17z=1
Wholemark is an Internet order business that sells one popular New Year greeting card once a year. The cost of the paper on which the card is printed is $0.50 per card, and the cos
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