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Describe the relation of money with wealth and income
It is very possible to have a high income but no money and no wealth, or to be very wealthy and have a lot of money but no income. This is another distinction to be careful with. Do not say that "Sam makes a lot of money" if you mean that Sam has a high income. Money has a very precise definition in economics!
what is gdp
An advantage of observing statistics from this range is that it encapsulates both positive and negative performances of the economy helping to produce a much more accurate insight
Hello, I am having difficulty in understanding what multiplier is.
There are three firms in an economy: A, B, and C. Firm A buys $450 worth of goods from firm B and $260 worth of goods from firm C, and produces 260 units of output, which it sells
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Determine the categories of finished goods Finished goods in the goods market are divided into 4 categories: private consumption going to private sector, public consumption for
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Informal groups exist in almost every kind of organization. Answer the following questions and provide examples to support your position: • What types of informal groups do you
Explain the Real wage with example Consider following scenario. You work full time and during January 2008 you make 2000 euro after tax. A specific basket of services and good
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