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Q. Define do you mean by GDP growth?
By (nominal) GDP-growth we mean the percentage change in (nominal) GDP over a specific period of time. Real GDP growth is defined as percentage change in real GDP. Real growth tells us how much the economy has grown during a specific period when effect of inflation is removed.
using a graph of the classical labour market, illustrate the effects of a real wage existing in the market that is lower than the equilibruim real wage.what will eventually happen
State the macroeconomic policy The view that macroeconomic policy must only focus on supply-side performance of economy and should ignore management of the demand side is an ex
explain and illustrate how the Lm curve is derived.
What are the pros and cons of outsourcing in order to keep prices down?
Q. Demand for money for AS-AD model? The money market The demand for money depends negatively on R,positively on Y and positively on P in AS-AD model
how to calculate consumption from saving and tax
The structural deficit: A. falls as the economy expands and rises when it contracts. B. changes as actual income changes regardless of potential income. C. does not change when inc
If taxes and government expenditures were constant and did not vary with income, then: A. passive deficits would increase. B. structural deficits would increase. C. passive deficit
give three example of models show endogenous and exogenous varibles
If you were a restaurant owner and you knew that the demand for your restaurant was elastic, how would you feel about a sales tax on restaurant food? Explain.
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