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To determine of the wealth is earned by nations by economic activates all around the globe.
Gross National Income comprises the total value of goods and services formed within a country (i.e. its Gross Domestic Product), together with its income received from other countries (notably interest and dividends), and less same payments made to other countries. It is also called as GNP. It can be calculated as follows: GNI = Gross Domestic Product + Net property income from abroad.
THE MODEL BUILDING A model of individual or aggregate economic phenomena represents a simplification of real world economic complexities. It may be expressed in words, ta
Can growth arise without development? Growth is just one feature of development and therefore is an essential but not enough condition for economic development. For example, g
Suppose in the Republic of Madison that the regulation of banking rested with the Madison Congress, including the determination of the reserve ratio. The Central Bank of Madison is
Is it true that government revenues are increased because of lower tax rates? Ans) It is true to a point. The Laffer curve determines that revenues enhance as the tax rates rise
let Y denote the number of "heads" that occur when two coins tossed. a) Derive the probability distribution of Y b) Derive the cumulative probability distribution of Y c)
Suppose that you decide to leave your current job(with a salary of $60,000) to start your own business in a building (with a market value of $400,000) you already own. You pay $45,
Why is it important for an organization to study and understand its external environment?
Two drivers --- Tom and Jerry --- each drives up to a gas station. Before looking at the price, each places an order. Tom says, "I'd like 10 gallons of gas." Jerry says, "I'd like
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Show the market for cigarettes paying particular attention to the price elasticity of demand and supply. What would happen to the total expenditure on cigarettes if there was a tax
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