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What is productivity? Productivity or average product (AP): It is output person which is output divided through number of workers AP= Q/L. There labour Productivity can
What is the difference between the short-run framework and the long-run framework? Discuss how each relates to supply and demand.
Q. What is the basic function of Central banks? A central bank is a public authority which is responsible for monetary policy for a country or a group of countries. Two signifi
What is this underlined phrase above referring to in the chapter lecture? Select one: a. Physical capital b. Social capital c. Human capital d. Entrepreneurship e. Growth com
types of production function models
State the Private sector in the circular flow Private sector total income is known as the national income. As private sector receives entire return from the factors of prod
what is economic laws ans characteristics of economic laws?
state the term fall in the exchange rate A fall in the exchange rate must make UK exports price competitive in international markets and increase demand for them. This should
what is credit creation process
Assume that the money demand function is (M/P) d = 2,200 - 200r, where r is the interest rate in percent. The money supply M is 2,000 and the price level P is2. If the price level
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