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GDP is an important indicator of a nation's economic performance. It has many components which contribute to the growth of the economy. Oil is a minor component of GDP and therefore it is to be expected that should the price of oil be subjected to a shock, there will be an effect on GDP, whether GDP decreases or increases is dependent on whether the nation is a net importer of oil ,and vice versa. The data used in this analysis is the quarterly growth rate not the total amount of production.
ACCOUNTING SYSTEM-EXAMPLE IV Now consider the economy as in example III. In the next year same outputs were produced and the same incomes were paid out. However, the household
Determine the categories of finished goods Finished goods in the goods market are divided into 4 categories: private consumption going to private sector, public consumption for
Define the Fisher equation Fisher equation is: Money supply (stock of money) x velocity of circulation of money = price level x total transactions in the economy or MV =
What does it mean to seek the Kingdom of God in a democratic capitalist economy? How can it be done?
Calculate the equilibrium price and quantity?
A person chooses between leisure and consumption. All of their consumption comes from current income. The utility derived from any combination of leisure and consumption is given b
what is the use of national income statistics as an indicator for a country''s standard of living?
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Suppose the US and Mexico both produce semiconductors and auto parts and the US has a comparative advantage in semiconductors while Mexico has a comparative advantage in auto parts
7 people have jobs, 3 want to work but are not, and there are 20 adults. What is the participation rate?
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