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the circular flow of income in an governed economy
During the 1990s, technological advance reduced the cost of computer chips. Explain, with the use supply and demand diagrams, how the following markets are affected in terms of pri
Explain about the nominal Gross domestic product It isn't very common to use CPI in construction of real GDP. The reason is that CPI measures the price evolution of consumer go
A recent study of long distance phone calls made from WPU, showed that the length of the calls follows the normal probability distribution with a mean of 3.2 minutes per call and a
It is assumed that the hazaed rate for a pressure valve is given by h(t)= 1/5+t. 1. What is the cumulative probability function of failure F(t)? 11. What is probability densi
An investor has a series of three $15,000 payments expected to be realized at the end of years three, four, and five. Calculate the present value P at time zero and the correspondi
Determine about the gross domestic product Growth By (nominal) GDP-growth we mean % change in (nominal) GDP over a particular period of time. Real GDP growth is stated as perce
Introduce about the open-economy macroeconomics shortly. The Open Economy: a. One of the major concerns introduced through open-economy macroeconomics is the exchange rat
discuss four weaknesses of using national income statistics in comparing living standards between two countries
Illustrate the aspect depends onto producers and consumers surplus. a. How much advantage do producers and consumers receive by the existence of a market? b. How is the welf
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