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Norway is one of the world's most urbanized nations and is home to one of the most superior economies in the world. The country's overall GDP is quite high considering the nation's small population. Its GDP per capita is higher than that of the United States, ranked second in both nominal and PPP figures.
Its GDP figures in 2005 were as follows: 1) Nominal GDP: $296 billion (25th rank) 2) GDP PPP was $195 billion (42nd rank) 3) Nominal GDP per capita: $64,000 (2nd rank) 4) GDP PPP per capita: $42,000 (2nd rank)
#quesExamine the expenditure trends over the last 40 years. What are the direction and magnitude of changes in spending in and between these various categories (with the exception
What determines aggregate demand?
Hotel rooms go for $100/room and sell 1000/day; if taxed at $10/room and rate goes to $108 and 900 rooms are sold, what''s the tax revenue and dead weight loss?
Black or underground or illegal economy: Black or underground or illegal economy has to be conceptualised as an integral and growing part of a variety of economies which emerg
The Standard Indifference Curve Diagram. The standard model of labour leisure choice does not distinguish between females and males. It is a unisex model. The vertical axis gives
A country s choice among the production of education and nuclear submarines is an issue of opportunity cost. Explain the issue using a PPF. Resources are limited whereas
Consider a consumer with the following Cobb-Douglass utility function: U (x, y) = x α y 1-α a) Find the Marshallian Demand for both goods. b) Find the Price Elasticit
explain how macro and micro issues may be represented using production possibility curve
Highlight the few heading of it
• If Mary uses all her resources to produce hats, she can produce 48 hats an hour. • If she uses all her resources to produce apple pies, she can make 24 apple pies an hour. how
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