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Find data on GDP and its components, and compute the percentage of GDP for the following components for 1950, 1980, and the most recent year available.
Do you see any stable relationships in the data? Do you see any trends?
a. Personal consumption expenditures
b. Gross private domestic investment
c. Government purchases
d. Net Exports
e. National Defense purchases
f. State and local purchases
g. Imports
What is economics system? What are the types of economics system? Briefly explain each type of economics system by giving examples of nations that are close to each type
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Suppose that market demand is given by Q = 10 - 0.01P in which Q is the quanity of a good given in million units, and P is the price of the good given in $ per unit. In the long-run, a typical producer faces average cost AC = 9 + 2Q and marginal c..
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