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What have been some justifications given for the historical exclusion of household production from the national accounts?
Some reasons have included:
a. households are not producing economic goods;
b. it's too difficult to differentiate household production from consumption;
c. GDP measures just market production; d; containing household production would make too big of a alter in the accounts.
Intermediate Products: Products (which includes both services and goods) that aren't produced in order to be consumed, but somewhat are produced in order to be used in the producti
Banking Infrastructure: An efficient financial system can influence the long-term growth through three important channels, namely: 1) increase in the proportion of saving tran
an explanation of the meaning of price ceiling
What is checkable bank deposits?
State the example of price and price level Create a basket which contains all the goods sold by a specific store on a specific day. Price of this basket is then a price level -
What is the importance of microeconomics in study of managerial economics? Normal 0 false false false EN-IN X-NONE X-NONE
sources of oligopory
Problem 1: i) Distinguish between the different types of concentration measures. ii) Derive and explain the Dorfman and Steiner (1954) condition for optimal advertising.
Model in economics is the permanent income hypothesis, which basically states that a household''s expenditures will not react to a change in income unless that change in income is
Ask qu a.Fill in the column of marginal products. What pattern do you see? How might you explain it? b. A worker costs $30 per day and the ''Firm has fixed costs of $10. Use this
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