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Differentiate between Actual and Potential output.
Actual output is that level which economy in fact produces. In contrast, potential output is the aggregate capacity output of a nation; the maximum amount of goods and services that can be produced with available resources and a given state of technology.
Give your own example of "pseudoreplication" (sensu Hurlbert 1984) in an experiment. How does pseudoreplication cause problems for correct inferences from experiments?
factor for long run trend of term of trade
Define the monopoly of Central banks The central bank has a monopoly on issuing currency, it is in complete control of the monetary base. In section 7.4.2 we will describe exac
In 2010, Wonderlanders consumed 15 million liters of rum at an average price of $5 per liter. The Wonderland department of commerce has estimated that the price elasticity of the d
The Red Lobster sells fresh seafood. Red Lobster receives daily shipments of farm-raised fish from a nearby supplier. Each fish cost $2.50 and is sold for $4.00. To maintain its re
How growth are improved living standards The two main benefits of growth are improved living standards and technological advancement. As an economy grows, the output of
You are an assistant to a senator who chairs an ad hoc committee on reforming taxes on telecommunication services. Based on your research, AT&T has spent over $15 million on relate
what does international trade fails to its claims ?
# ???? .. difference between gdp at market price and nnp at factor cost
The following Table B presents the 2010 population, employment, and unemployment data among working age persons for several countries. a. Calculate the number of people in the lab
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