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Why do some countries have a high real per capita income?
High standard of living within the industrialized nations consider to be largely because of the high productivity of high value added products
High productivity can be the effect of:
• High quality of human capital along with
• Access to current complementary resources for example, state-of-the-art capital.
Assume that a Mazda 2 sells for 16,000 Australian dollars in Australia and 10,000 Canadian dollars in Canada If purchasing-power parity holds, what is the Canadian dollar/Australia
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The graph shows that if policymakers respond immediately to an oil price shock by stimulating aggregate demand, shifting AD to AD* then the level of output will remain constant. Th
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