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Classify each good as a final good or intermediate good. (briefly explain wach choice)
1. running shoes
2. cotton fibers
3. watches
4. textbooks
5. coal
6. sunscreen lotion
7. lumber
What is the meaning of Deindustrialisation Deindustrialisation or structural decline of many manufacturing industries along with activities like coal mining is associated with
Describe the meaning of word -Investment When we use the word investment, we generally mean "gross investment". Essentially, gross investment comprises all finished goods which
What are the three methods that societies have used to allocate their scarce resources? Give an example of each method. Give an example of a good that uses all three methods at onc
The IS-curve in the AS-AD model The IS-curve is not affected by P in the AS-AD model We can define an IS-curve in the AS-AD model similarly to
Relation between nominal interest rate, real interest rate and inflation If we denote the nominal interest rate by R, the real rate by r and the expected inflation by p e then
Because of high production-changeover time and costs, a director of manufacturing must convince management that a proposed manufacturing method reduces costs before the new method
WHO IS JOHN MANYARD KEYNES
with the help of a graph, explain factors that may cause a shift in the balance of payments
Q. Consumption function in the AS-AD model? Consumption. Suppose that P increases by say 10% whereas real GDP (Y) is constant. Nominal GDP and nominal national will now have
Q. Describe the macroeconomic variables? In this section we have summarizes all the macroeconomic variables. The first column denotes the symbol we use for variable whereas col
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