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What are the three methods that societies have used to allocate their scarce resources? Give an example of each method. Give an example of a good that uses all three methods at once?
GDP is an important indicator of a nation's economic performance. It has many components which contribute to the growth of the economy. Oil is a minor component of GDP and therefor
Deposit K4000, liquid asset k1000, loans K4000. what is current liquid asset?
What impact will an unanticipated increase in the money supply have on the real interest rate, real output, and employment in the short run? How will expansionary monetary policy a
How can an economic development be measured? The UN has developed an extensively accepted set of indices to measure development in opposition to a mix of composite (element or
Cd players are produced on an automated assembly line process. The standard cost of CD players is 150.00 per unit. The sales price is $300.00 per unit. To achieve a 10 percent mult
Scope of Economics
RELATIONSHIP WITH 8 VARIANTS OF NATIONAL PRODUCT AGGREGATESÂ We have shown the distinction between national product at market prices and national product at factor cost, based
explain the functions and role of the world bank
When single business or corporation dominates its area and squeezes out all its competition, the result is the consumer does not have a open choice, and inevitably, the price of it
HOW TO GET THE REVENUES AND EXPENDITURES AS A PERCENT OF GDP?
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