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Fiat money is what is regular in modern economic systems. Fiat money is money that is described as legal tender by either a government or some organization with the authority to e
if nominal GDP in 2002 exceeds nominal GDP in 2001, did real output rise?
Neoliberalism So much thinking about the proper role of government in economic growth over the past 2 decades has tends to conclusions which are today known as neo-liberal. The
Cost in the Long Run Cost minimization with the Varying Output Levels -A firm's expansion path shows minimum cost combinations of labor and capital at each level of output.
Dialectic Inquir y It is a technique for group decision making in which members are forced to "debate" both sides of a matter. Dialectic inquiry forces consideration o
Q. What is Debt Burden? Debt Burden:Real economic importance of a debt relies on interest rate that should be paid on debt and on total income of consumer or business which und
What is the difference between wages and salaries
Explain the difference between a stock and a flow. A stock is something whose quantity is calculated at a point in time, whereas a flow measures the quantity of something ove
Cardinal Theory: An Introduction In cardinal approach, utility is measured cardinally or numerically in terms of money. The consumer not only knows which one is preferred but
Distinction Between Cost and Expenditure As has already been defined, cost is the money equivalent of material and human resources needed to produce a good or a service. Expen
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