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Why are the imports subtracted when GDP is measured in expenditure approach? If you woke up in the working & found that nominal GDP has doubled overnight. what statistic wou
POSITIVE AND NORMATIVE ECONOMICS Economics as a social science adopts an analytical approach to the study of changes in economic variables on the actions of human beings. Th
Let the real interest rate, i r , equal 5 percent and the rate of depreciation, d, equal 10 percent. In this case, if the price of a piece of capital is P K = $10,000, what is th
How growth are improved living standards The two main benefits of growth are improved living standards and technological advancement. As an economy grows, the output of
Given the demand and cost data you will have available (see information below), briefly describe the process you would use to determine optimum output and price levels in the devel
x=40-0.2p where x=x1+x2 c1=50+2x1+0.5x1 c2=100+10x2
Are there any current subsidy or welfare issues that are being discussed or addressed in parliament or in municipalities
PRODUCTION POSSIBILITY CURVE As we have seen, the essence of economic analysis is the problem of scarcity and choice. We know that limited productive resources compel individua
The GDP deflator in Economy land is 200 on January 1, 2010. The deflator rises to 242 by January 1, 2012, and to 266.2 by January 1, 2013. a. What is the annual rate of inflati
Imputed values included in GDP are the: A) market prices of goods and services. B) estimated value of goods and services that are not sold in the marketplace. C) price of
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