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Why do national income accountants compare the market value of the total outputs in various years rather than actual physical volumes of production? What problem is posed by any comparison over time of the market values of various total outputs? How is this problem resolved?
Compute total revenue at each and every price for this demand curve.
GDP is defined as the market value of all final goods and services produced within a country in a given period of time. In spite of this definition, some production is left out of GDP.
So why were United States citizens so much richer? Discuss. Also, discusshow and why this ratio has changed since the 1960s and what the prospect for this ratiofor the future is.
1. Assess whether the following would be counted as "unemployed" in the Current Employment Statistics survey.
Explain the following statement: "Changes in disposable income lead to movements along the consumption function while changes in wealth lead to a shift of the consumption function." Use examples to illustrate your response.
Examine how this is an important element of American history in the development of a diverse culture, while at the same time increasing social distance.
Analyze What is the Marginal Rate of Transformation impact? What is the labor-abundant country? What is the capital-abundant country?
How can we tell if the economy is running efficiently? What kind of indicators might we look at?
(a) Describe 3 factors which could increase the supply of bicycles. (b) Describe, using examples, what is meant by fixed costs and variable costs. (c) Draw a diagram showing the relationship between fixed, variable, and total costs.
a). Derive the equation for the IS curve b)Find the equation for LM curve. c)express both IS and LM curves in terms of r, and graph both curves.Find their slopes. d) Calculate the equilibrium levels of real utput, interest rate, planned investment, a..
How do economists derive estimates of marginal damages from estimates of total damages? Why is a discount factor used in these calculations? What results do they find?
A major limitation of nonrandom samples is that they are not appropriate for most statistical methods. Critically review this statement with suitable examples and supportive references.
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