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Explain the two approaches that can be used to compute GDP. Why do these two approaches lead to the same value for GDP? Explain why real GDP is a more reliable estimate of economic growth than nominal GDP.
q.listing different orderings and coalitions is not going to work for this problem because there are too many
make a recommendation to your neighbor based on convincing economic analysis.
What would be additional effects follow from this initial effect. What is the total effect of the tax cut on aggregate demand.
q1. the price of a firms product increases from 5 to 6. as a result the quantity demanded of the product declines from
Describe a situation where the presence of multicollinearity would not necessarily be a bad thing. Explain your rationale. Describe a situation where multicollinearity would definitely be a bad thing and recommend remedial measures for the situation ..
Calculate nominal GDP in 2006 and in 2007 and the percentage increase in nominal GDP between 2006 and 2007.
Using appropriate diagrams and notations,carefully explain the relationship b/n elasticity, total revenue and marginal revenue. 2,discuss the uses of elasticity of demand.
Cyclical unemployment and the natural rate of unemployment are sometimes hard to distinguish from each other, so economists are not very confident about estimates of the natural rate of unemployment. Still, since unemployment rates are consistently h..
a company builds furniture. recently different woods they use have become harder to obtain. consultation with
Explain how many units of labour will Valentines hire. What wage per unit of labour will Valentines pay.
Briefly explain why the three variables are appropriate explanatory variables to predict the consumption of services or why they are related to consumption.
Suppose that the wage is $20 per hour in a two-sector (manufacturing and agriculture) specific-factors model. Currently, the prices of manufactured and agricultural outputs are $5 and $1, respectively;
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