Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Q. What do you mean by Gross domestic product?
Perhaps the most significant concept in macroeconomics is Gross Domestic Product (GDP):
Gross Domestic Product (GDP) is expressed as the market value of all finished goods and services produced in a country during a particular period of time
Note that we only embrace finished services and goods- which is, anything which is sold directly to the consumer. Electric power sold to a steel mill isn't included whereas all the electric power sold directly to consumers is included. Reason is simply that we want to avoid 'double counting'. Consider for illustration the production of cars. Car producers have parts produced by other firms that in turn have parts delivered by other firms and so on. If we were to count the value of everything produced by a firm, then most parts of a car will be counted many times. This is why only the value of finished car is used in the calculation of GDP. Note, though, that if a firm buys a robot which it uses in the production of cars, then this robot is counted (if it is produced in same country). Car producer is then 'final consumer' of the robot - no value is added to it and it isn't resold to another firm.
uses of national income statistics..
what does phillip curve signify? how do you reconcile the difference in the shap of the curve in the short run and the long run?
# ?????? ..
From California to New York, legislative bodies across the United States are considering eliminating or reducing the surcharges that banks impose on noncustomers, who make $14 mill
what is the use of national income statistics as an indicator for a country''s standard of living?
what have you learned from the class
In reference to the above question, assume you know the combination of inputs that minimizes cost. What would happen to this input combination if the price of labor increased? What
Project feasibility study is needed to make a decision whether the project proposal is technically and economically possible. After finalization of the project feasibility report b
We will continue with the familiar demand curve homework the previous section Let the market demand for goods be with a linear curve: (p =A q D /10), where it is known
What are the important tools to consider Monetary Policy? Important tools to consider Monetary Policy: a. What the money demand curve is b. Why the liquidity preference m
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd