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State in brief the Nominal wage level
In macroeconomics, we are generally not interested in the wage for a specific individual though in the average wage for all employed individuals. This average is known as wage level but as we typically only care about wage level, we will almost always use wage when we actually mean the wage level. Hence a statement like "wages increase" must not be interpreted as all wages increasing but instead that average is increasing.
Consumer Prices Index Two economic indices learnt at AS are the Consumer Prices Index (CPI) and the Retail Prices Index (RPI). Both are used to calculate the average price lev
Government revenue, government spending and net exports G, NT and NX are exogenous variables in the classical model In the classical model (and
list of macro-economics problems of indian economy
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Suppose you belong to a tennis club that has a monthly fee of $75 and a charge of $5 per hour to play tennis.
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what is the formula for calculating investment multiplier for 4 sector economy?
What are the advantages of leaving resource allocation to price allocation? Ans) The 5 benefits are Neutral, Flexible, Freedom of choice, No administrative cost and lastly Dimin
defination
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