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There, you can obtain the available data on GDP and its components.
a. What is the value of nominal GDP during the past 5 years?
b. What is the GDP deflator in 2006?
c. What was the value of real GDP in 2006?
d. By how much has real GDP changed over the past 5 years? Express as percentage.
e. Did real GDP increase or decrease? and what does the change tell you about the state of the economy over the past 3 years?
1. Imagine that two countries, Richland and Poorland can produce just two goods, computers and coal. Assume that for a given amount of land and capital, the output of these two pro
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discuss the concept of demand for the products that are being consumed by the different consumers
Most studies of firms’ long run costs have found that average costs decline as firms produce increasingly larger output levels (economies of scale), such as for automobile firms. H
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How static multiplier can be shown diagramatcally
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QUESTION a) State and explain the assumptions of a perfectly competitive market. b) Analyse the effects on the firm's profit and output of an increase in demand in the short
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