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Gross Domestic Product
A measure of national economic activity, GDP is measured from two approaches. GDP can be viewed as the total value of all goods and services produced in the United States, or as the total value of all payments made to produce all American goods and services. Other measures of GDP exist that take into account inflation factors, so that the adjusted GDP is a more accurate representation of economic activity in the United States in original dollars.
THE IMPACT OF INFLATION Inflation has different effects on different economic activities on both micro and macro levels. Some of these problems are considered below: i.
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Factors affecting the total market demand These are broadly divided into the determinants of demand and conditions of demand. (a) Own price of the product This
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Supplementary Reserve, Requirements/Special Deposit If the Central Bank feels that there is too much money in circulation, it can in addition require commercial banks to mainta
define scarcityand oppurtunity cost.show how these concepts are useful in managerial decision making
A firm faces a perfectly elastic demand for its output at a price of $6 per unit of output. The firm, Though, faces an upward-sloped labor supply curve of E= 20w-120 W
Direct intervention The government can also intervene directly in the economy to see that its wishes are carried out. This can be achieved thorough: a. Price and i
Profit as rent of ability: one of the most widely known theories of profit was propounded by F.A. Walker. According to him profit is the rent of is the difference between the earn
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