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Determine the productivity level of US
Those who live in relatively poor regions of the world today have higher material living standards than their predecessors who lived in those regions a century ago. However the relative gap regarding the industrial core has grown extravagantly and extraordinarily. In the first half of 19th century the average inhabitant of an average country had perhaps one-half the material standard of living of a citizen of the world's leading industrial edge economy. Today average inhabitant of an average country has just one-sixth the productivity level and material standard of living of the leading edge.
Where minimum efficient scale is very huge for capital intensive operations, it may be more cost effective to allow one company to spread its fixed costs over a very huge number of
1. Describe why government regulation is required, citing the major reasons for government involvement in a market economy. 2. Justify the rationale for the intervention of gove
Separate Administrative Set-up for Exports: It may be worth examining the setting up of Foreign Trade Board, similar to what obtains in Japan (JETRO) and South Korea (KETRO)
why value of marginal product is negatively sloped
How does an increase in the size of a future payment affect the present value of a future payment
Q. What do you meant by Real GDP? Real GDP:Value of total gross domestic product (which is, all the services and goods produced for money in the economy) adjusted for effects o
Participation Rate:Proportion of working-age individuals who decide to ‘participate' in the labour force, by either being employed or actively seeking work. Precise definition of w
The Production Possibilities Frontier (PPF) The PPF curve exhibits the probable combinations of goods and services accessible to an economy, given that all productive resources
Research has revealed the following information about the market for Thomas chocolates; the demand schedule can be represented by the equation Qd=850 @20 dollar. The supply schedul
meaning of economics laws
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