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Explain production as an income generating activity.
What are the principal difference among government purchases of goods & service and transfer payments?
Why are interest payments by the government considered part of personal income but not part of national income?
how can a central bank diminish inflation
How can an economy achieve mutual gain from International Trade?
explain the terms abnormal profits and normal profits
what effect would a rise in the velocity of money have on output, employment and price level?
The production function is Q=3LK
#question.distinguish between economic growth and economic development.
State the market for overnight loans Overnight interest rates are rates for loans over a single night - these are the shortest of all interest rates. During the day, banks norm
Q. Determine price level from the quantity theory of money? The price level The price level is determined from the quantity theory of money: P = (M.V)/Y
The Concept of Growth and Growth Rate is explained below: Economic growth is rise in an economy’s level of the production of commodities, output or income. We can talk about th
P2 and P3 play with a penny. P1 picks between same (S) and different (D). After observing P1's choice, P2 and P3 get to picked Simultaneously independently either head (H) and tail
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