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Which is a better measure of economic well-being real GDP or Nominal GDP?
Ans) Well real GDP takes into account the inflation rate and therefore is more accurate at recording the actual enhance in production activities. Thus, Real GDP is better.
Give an example of how the Principle of Opportunity Cost applies to your life. Think of a recent decision you made. It could be a decision as simple as whether to eat out or cook y
c) Explain why perfectly competitive markets lead to an allocatively efficient allocation of resources in the long run
critically examine the keynesian theory of unemployment
Determine the current productivity results for the non-farming business sector and the manufacturing sector. Discuss recent productivity and cost trends and make predictions for th
explain the stages and various coordination mechanisms involved in policy processes.
Gross Domestic Savings Income not devoted to current consumption is saved. In an economy during a particular year some units will consume less than their income while some wi
what is national income
Arrow up or down: An increase in the wage for high school graduates __________ the opportunity cost of college. A) arrow up B) Arrow down
Suppose the own price elasticity of demand for good X is -5, its income elasticity is 2, its advertising elasticity is 4, and the cross-price elasticity of demand between it and go
One unit of A is made up of one unit of B and one unit of C. B is made of three units of D and one unit if F. C is composed of three units of B, one unit of D, and four units of E.
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