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A farmer grows a bushel of wheat & sells it to a miller for Rs. 1.00.
The miller turns the wheat into flour & then sells the flour to a baker for RS. 3.00. The baker uses the flour to produce bread & sells the bread to households for RS. 6.00. The households eat the bread.
What is the value added in every stages of production?
What is GDP?
brifly explian
As people went from barter societies to more advanced economies, money had to be invented. Several things successively served as money in the course of economic evolution. Arrowhea
The entire market is capture by a single firm which can produce at a constant average and marginal cost of AC = MC = 10. The firm faces a market demand curve given by Q = 60 ? P.
Consumption = $3 trillion, Investment spending =$2 trillion, Government purchases = $2 trillion, net exports via the ROW is $0 trillion. 1. What is the best estimate of real GDP
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The more certain private property rights are, a. the less people need to invest in education or human capital development. b. The less entrepreneurship there will be. c. t
Tariffs and Non-tariff Barriers A significant aspect of the trade reforms of the 1990s was the reduction in the then prevailing very high import duties (over 300 percent in so
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