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The idea for the national accounts came during the 1930s depression in the U.S., when decision-makers wanted to get a better sense of by how much economic production had fallen. Simon Kuznets was commissioned to make the national accounts.
The business sector produced slightly more than 77% of GDP, while the household and institutions sector, and the government sector were every estimated to have contributed about 11% of the total GDP.
Long run equilibrium - Perfect competition: In the long-run, on the other hand, the firm in perfect competition is making normal profit or zero economic profit as shown in Fig
What is Modern Economics? Modern Economics: Modern economics mostly developed within last sixty years, methodically studies individuals’ economic behavior as well as econo
its elements , scope calculation
subsitution effect dominate tha income effect in which good case?
Why Average Revenue= Marginal Revenue
THEORY OF CONSUMER BEHAVIOR: It is generally observed that market aggregate demand curve for a commodity is downward sloping, given other things. Our problem is to investigate
Determinants of Private Demand for Education Rates of return on investment in education is only one of the factors determining the demand for private investment though it is
what is tariff and qouta
Closesubstitute goods: The number of closesubstitute goods The more substitutes of good has and the more close the substitutes are, the more elastic the demand for the good. Fo
Modem theories of trade
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