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What is the difference between GDP and GNP?
Gross domestic product (GDP) is the value of the total final output formed inside a country, during a given year. GDP, like all measures of national income, is a flow (as opposed to stock) figure accruing over the period of one year. Gross national product (GNP) is the value, at current market prices, of all final goods and services formed during a year by the factors owned by the citizens of a country. Thus the income earned by Pakistani citizens working in the US would be contained in Pakistan's GNP but excluded from Pakistan's GDP. Conversely, the income earned by a US citizen (individual or corporate) in Pakistan would be included in Pakistan's GDP but excluded from Pakistan's GNP. Generally, GNP = GDP + net factor income from abroad.
Which of the following has not occurred over time in the past several decades in the physician services market? A. The level of competition has increased. B. Economies of scale ha
Suppose scientists discover that eating soybeans prevents cancer and heart disease. What effect would you predict on the price of soybeans?
Structure of the IMF: The Central office of the IMF is in Washington DC, USA. It has 184 members. It is affiliated to the UNO. The highest authority of the IMF is the Board of
hi i need price,cross and income elasticity of toyota corolla car. its only small part of the assignment topic so its need around 500 words. thanks ishwor
Explain how oligopolies can work both for and against consumers. Oligopolies market power can of course work against consumers - as price-setting and any form of collusion will
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graphing a isoquant
Wealth Tax: A tax in that owners of specific forms of wealth (likereal estate, financial wealth, or inheritances) should pay a specified proportion of that wealth to government, us
Question 1: (a) Describe what is Economic growth and describe its relationship with standard of living? (b) Assuming you are the government economist, what policy measures
We couldn''t find "Bob sold 50 fans at $20 a piece last month. This month he decreased the price to $15 and sold 75. What is the price elasticity of demand for fans
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