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EXPLAIN THE 5 SECTOR MODEL (OPEN ECONOMY) IN INCOME DETERMINATION
What is The law of comparative advantage The law of comparative advantage, though, suggests that it would be unwise of UK economy to try to replicate German model. First German
Discuss how income flows in governed economy, frugal economy, spend their economy.
what are the types of exchange rate
The United States is considered to be an industrialized nation because we have such a high standard of living. Countries with lower standards of living are considered to be emergin
RELATIONSHIP WITH 8 VARIANTS OF NATIONAL PRODUCT AGGREGATESÂ We have shown the distinction between national product at market prices and national product at factor cost, based
Benefits of Regional Integration Most economic experts cite that regional integration permits disadvantaged countries to realize economies of scale, vie on a broader (often gl
Explain the term- inventory investment We would have a negative inventory investment whenever inventories decrease. By net investments we mean gross investments minus depreciat
Q. Define Effective exchange rate? Suppose that we are interested in external competitiveness of a country, let's say Japan. To do this we could look at evolution of a particul
Determine the term- Nominal wages The nominal wage is wage per unit of time in currency used in the country- what we mainly just call wage. When we refer to wage in macroeconom
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