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How does the income approach to measuring GDP differ from the expenditure approach? Explain the meaning of value added and its importance in the income approach. What are the leakages from and injections into the circular flow? How are leakages and injections related in the circular flow?
Whenever the amount of output produced is not as great as the amount that the economy is capable of producing, there is a positive GDP ___________ and cyclical unemployment will be the result.
Define institutions in the context of business strategy, and explain the role of institutions when considering entering a foreign market. Explain the role of culture in how these institutions are shaped. Provide at least one example of a country wher..
Suppose that the price elasticity of demand for potatoes is -.3 and that the price of potatoes were to drop by 10%. A. What will happen to the quantity of potatoes demanded?
evaluate a plan designed to cut costs. Under plan, workers would be paid a fixed rate of $8/hour. Would you favour plan, Explain.
elucidate how many units of fish could it now consume along with the 80 units of imported wheat.
You have just started a new job and one of the fringe benefits is a company contribution of $5,000 every year into a retirement savings account. Assuming the contribution amounts remain unchanged and that the account earns an average of 8% per year, ..
An airline transportation consultant offers the CEO of Blue Star struggling new commercial airline company
Kevin Quinn was a 60-year old engineer who had worked for Mongo Project Corporation for thirty years. Quinn was approached by Mongo to work as manager of engineering on the Jumbo Project, a two-year project constructing an industrial city in Saudi Ar..
Suppose that a small town has seven burger shops whose respective shares of the local hamburger market are (as percentages of all hamburgers sold): 25%, 24%, 20%, 12%, 9%, 6%, and 4%. What is the Herfindahl index for the hamburger industry in this to..
"Any development program adopted by a country is considered sustainable only if the said program is economically, socially and environmentally sustainable." Do you agree with this statement? If yes, explain what you understand by social sustainabilit..
Illustrate what might you call an outward shift of a nation's production possibilities frontier.
If one producer is able to produce a good at a lower opportunity cost than some other producer, then the producer with the lower opportunity cost is said to have an absolute advantage in the production of that good.
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