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Determine the term- GDP per capita
GDP, being a flow, isn't a measure of the total wealth of a country though a measure of the "income" of country during a certain period of time. Sure, if GDP is high, it's quite likely that total wealth of the country is increasing over time (some wealth is lost to depreciation). So there is generally a connection between what we perceive as a "rich" country and a high GDP per capita.
What are the differences between perfect competition and monopoly competition? Ans) In a monopoly, you are gaining an unfair benefit over any competition because you own so many
Explain the concept of elasticity and describe why the supply of petrol in the short run is relatively inelastic.
What were the key provisions of the economic stimulus bill passed by congress in February 2008? What further changes in fiscal policy have occurred since this time?
On the day his son was born, a father decided to establish a fund for his son's college education. The father wants the son to be able to withdraw $4000 from the fund on his 18th b
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why lm curve upward sloping and is curve downward sloping?
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Figure below demonstrates a more developed version of the circular flow. In this figure we see how goods flow through various sectors of the economy. Figure Money in the c
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