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Macroeconomics
We have explained several concepts and Macroeconomic Aggregates which form the basic terminology of macroeconomic analysis. Like other empirical sciences, economic analysis deals with those concepts which can actually be measured, things such as prices of industrial production, stock prices, interest rates, gross investment, number of the unemployed, national income, or the general price level.
The concepts like national income and national product are most significant in macroeconomic accounting. As the accounting statement of a firm provides information on the flow of revenues and expenses fully to show the firm's performance, the national income accounts supply similar information for the economy as a whole. They provide a comprehensive overview of how the economy is doing. Without a measuring rod for national income aggregates it would be difficult to assess the performance of the economy and the economic phenomenon as such. In this chapter, an effort is made to explain how the flow of an economy's output is measured and why the major economic aggregates are considered as important business and market movers.
how can a country maintain equilibrium GDP with foreign trade?
Consumer Equilibrium: According to our assumption for 'x' units consumption of the commodity, gross utility obtained by the consumer is U(x).But for this, the consumer must sp
assuming that B=0.33 Y1998=[0.33]Y1998 Estimate the permanent income for 1998
what is economic laws ans characteristics of economic laws?
Q. Determination of all the endogenous variables? Determination of all the endogenous variables in the AS-AD model Determination of P and Y: Prices and
5. In this question you should assume that the Marginal Propensity to Consume out of permanent income is one [i.e., no bequest motive + perfect consumption smoothing: c1, = c2 = c
why is international trade important south africa
Hi, I need help with my Aplia macroeconomics problem sets.
A profit maximizing firm has a production function such that: Y=K2L2 a) If P=10,rk=2,andWL=3 , what would be its optimum be? How can you show that it is a maximum? b) How
Q. Evaluate Nominal wages? Nominal wages W = (W/P).P The nominal wage is equal to the real wage times the price level. Because the real wag
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