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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.
Q. Define Nominal wages? The nominal wage is wage per unit of time in the currency used in the country- what we usually just call wage. When we mention wage in macroeconomics w
example on the calculation of IS LM Curve?
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Desired Aggregate Spending Desired aggregate spending refers to the volume of purchases of the currently produced goods and services that all spending units in the economy wish
Introducing the Foreign Trade Sector Most economies in the real world are open economies. They engage in trade with other economies. Goods and services are exported and import
There are 4 main types of market economies. They are also called as Economic Systems. The four are Free Market, Mixed Market, Traditional and Command Economy
importance and limitation of principle of acceleration
law of indefference curve
Which of the following statements BEST describes the Metzler paradox? a. Tariffs improve the imposing nation's terms of trade. b. Export subsidies hinder the imposing nation's term
Rewrite the national-income model (3.23) in the format of (4.1), with Y as the first vari¬able. Write out the coefficient matrix and the constant vector.
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