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How is Gross Domestic Product capturing the economic dimension of human well-being?
GDP (Gross Domestic Product) only captures the economic dimension of human well-being. All countries along with identical per capita $PPP may experience extensively different as:
a. Environmental impact of negative externalities and growth
b. Working hours as well as levels of stress
c. Distribution inequalities into income, health and education among the social classes and also geographical regions
d. Sustainability comprising depletion of natural resources and also social inclusion
how can a community having water shortages issues be resolved using marginal utility and consumer behaviour
Write a book review of a book of your choice (chosen from the list of course reference literature) by either Joseph A. Schumpeter or Israel Kirzner about entrepreneurship and macro
QUESTION 1 (a) Explain the relationship between scarcity, choice and opportunity cost. (b) How is choice about the use of scarce resources made in a market economy? QUES
What is the difference between real and nominal Gross Domestic Product? National Income consists of a price and a quantity element. When the price level doubled along with simi
(present value) Suppose an entrepreneur considers to invest in a project. It needs a cash investment $I at year t = 0. If she/he invests, the project will generate an annual cash
how the concept of elasticity used for policy formulation
Task You work for a government of a European country that is considering making admission to museums of your country free to make them available to everybody. You have deci
concept ofexploitation of labour
A clinic uses doctors and nurses optimally and is servicing the maximum number of patients given a limited annual payroll. The last doctor hired treated 1,600 extra patients in a
A sample of 60 mutual funds was taken and the mean return in the sample was 13% with a standard deviation of 6.9%. The return on a particular index of stocks (against which the mut
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