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In 2010, Forbes magazine listed Bill Gates, the founder of Microsoft, as the richest person in the United States. His personal wealth was estimated to be $53 billion. If there were 299 million people living in the United States that year, how much could each person have received if Gates' wealth had been divided equally among the population of the United States?
In the view of above complications, there is a long-standing debate on whether the fiscal policy should be active or passive in nature. Note that in the Keynesian context; even a p
Explain the Exchange rate system in western world The most common exchange rate system in western world during previous century was the fixed exchange rate system. Up to 1930s,
Interest rate determination The real interest rate r will be equal to the equilibrium real interest rate In the classical model we define equil
Explain the term production function in the economics. Production Function A production function is the association between the quantity of inputs a firm utilizes and the qu
law of indefference curve
The Budget Line: The Consumer Constraints The consumer would like to maximize his satisfaction by reaching the highest possible indifference curve. But in the process, he faces
What is the development process? Development is measured through outcomes that are development occurs while key indicators of human well-being enhance. A reduction of poverty
Minimum wage laws are common in many countries. The debate over minimum wage includes claims about the impact of this action on employment levels and wage levels. What impact does
calculation of GDP
what are the limits of the trade between franci and galacia
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