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National income:
The national income or product or expenditure provides a measure of total value at factor cost of final goods and services, which are available either for consumption or for addition to wealth. GDP is the monetary value of final goods and services produced in an economy (for example within the four walls of Ghana) in a given time period, say one year.
National Income estimates are very useful to economists, policy makers, business people and investors. However, some problems are faced in accounting for national income.
Explain the term Fordism Between approximately 1890 and 1930-or perhaps 1890 and 1950-a host of innovative technologies and business practices were adopted in the US. Europeans
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1. The marginal benefit (demand) curve for pollution for an industry is P=100-4*Q, where Q is emissions in tons. The current emissions tax (price) for pollution is $40/ton. Regu
Marginal Revenue, Marginal Cost & Profit Maximization * Determining profit maximizing level of output - Profit (π ) = Total Revenue - Total Cost - Total Revenue (R) = Pq
how has the haberlers theory of opportunity cost an improvement over the classical theory of trade
if a monopolist makes economic profits, new firms enter the market and compete with the monopolist in the long run.
Tc and TVC curves have an inverted s-shape
KEYNES' THEORY AND EXPECTATIONS : Expectations played a major role in Keynes' theory of the determination of aggregate output and employment in market economies in the short run
Valence Bond Theory Explains, but does not predict the shape. Valence Bond Theory Cannot explain colour and spectra. Valence Bond Theory Qualitative explanations; does not expl
ESTIMATION OF NATIONAL INCOME: In India, the first attempt to estimate national income and per capita income was made in the year 1867-68 by Shri Dadabhai Naoroji. This was fo
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