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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.
Which of the following equations is FALSE for perfectly competitive firms? A. Total cost = fixed cost + variable cost B. Marginal cost = change in total cost / change in quantity o
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Explain the facts or economics rate Boom: The period leading up to the peak of the cycle when an overheating economy is experiencing high GDP growth and inflationary pressures
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