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Define the aggregate price level in the macroeconomics.
Aggregate Price Level:
A nominal measure is a measure which has not been adjusted for modifications into prices over time.
A real measure is a measure which has been adjusted for modifications into prices over time.
The modifications in real wages are a superior measure of changes into employees’ purchasing power than the modification into nominal wages. The aggregate price level is the whole level of prices into the economy.
How does social capital influence development? Problem: Low social capital leads to potential conflicts and high transaction costs which hinder growth. Several LDCs (Less Deve
VARIOUS DEFINITIONS OF UNEMPLOYMENT
The Basic assumption which underlay the government of international economy has been that the economies of the world would converge around a capitalist model. The details of such a
MBA Economics Assignment Question 1: Many analysts in both developed and developing worlds have heavily criticized the cases of monopolies. Discuss using relevant examples whether
using 8 units of production resource to produce 10,000 c0ws by a farmer how many sheep could he have produced
Hoe to reduce above mentioned issue.
Accountants prepare income statements typically in terms of historical costs, in terms of the purchase price, rather than in terms of the current price. The reasons given for this
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What is the development gap? The development gap refers to the divergence between standards of living in the developed and developing world. As like Source World Bank:
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