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Illustrate the three approaches of measuring national income? Show that these three approaches give identical result. Explain private saving. How is the private saving used
distnguish betweenNational income at market price and National Income at factor cost, explain the importance of the distinction
Store of value - Economic functions of money If you are a fisherman and have a temporary surplus of fish that you want to store for the future, storing the fish might not b
How do countries grow Economic growth? Economic growth is attaining by increasing: • Quantity of resources by investment • Quality of resources by training as well as R
The market demand for a factor The market demand curve for any input is not simply the horizontal summation of the individual demand curves of all the firms. This is due to th
Q. Production function and Growth? From the simple production function Y = f(L, K), we can classify three sources of growth: An increase in L. An increase in K.
To analyze the effects of discrimination in labor markets, use supply and demand curves for labor, with the demand curves representing the value of the marginal product, show the e
Consider the above table. Assuming the government imposes a price floor on garbanzo beans of $8, what would be the likely result? a. no change, equilibrium would prevail b. T
explain the structure of the economy and its impact on the gdp of sountry.
unplanned changes in inventory are counted as inventory spending by firms.say true or false and justify
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