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Differences between absolute advantage and comparative advantage? Ans) Absolute benefit and comparative benefit are two basic concepts to international trade. Under
Q. Relation between Money - wealth and income? Money isn't the same as wealth. An individual may be very wealthy however have no money (for instance by owning stocks and real e
what is keynesian model
Q. Consumption function in the AS-AD model? Consumption. Suppose that P increases by say 10% whereas real GDP (Y) is constant. Nominal GDP and nominal national will now have
How can consumers become better educated about the products they are considering for purchase? To what extent do you personally go to acquire the best information available?
To determine of the wealth is earned by nations by economic activates all around the globe. Gross National Income comprises the total value of goods and services formed within a
However, these results should be approached with due caution. The limitations and problems associated with VAR modelling have been outlined in this paper, therefore these observati
Gross Domestic Capital Formation Production requires services of fixed assets such as machinery, equipment and structures as well as working capital i.e. stocks of raw materia
If 5000 units are sold and income increases by 20% with an income elastiticy of +2, what will the number of sales units be after the increase
What is the size of the labor force if the unemployment rate is 6%, the population is 300 million, and the number unemployed is 6 million
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