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Q. Describe about Components of GDP? By considering all arrows to and from the goods market we see that Y + I m = C + I + G + X. Left hand side is the value of all finishe
Derive the conditions for steady state in the Solow model. What are its implications? In what respects is the golden rule different from the steady state?
Consider the following demand schedule. Does it apply to a perfectly competitive firm? Compute marginal and average revenue Price Quantity Price Quantity $95 2 $55 5 $88 3 $40 6 $
1. In December 1979 it was possible to buy a January 1980 contract in gold at the New York Commodity Exchange for $487.50 per ounce and sell an October 1981 contract for $614.80 on
THE FOUR BIG MACROECONOMIC ISSUES AND THEIR INTER-RELATIONSHIPS 1. Link between growth/development and the various factors of production of the commodities: Before we mov
Q. Define Nominal wages? The nominal wage is wage per unit of time in the currency used in the country- what we usually just call wage. When we mention wage in macroeconomics w
BENEFITS OF GDP
If you have $10,000 to start a lawn-cutting business, the interest rate is 6 percent, your annual cost of raw materials are $4,000, and the earnings you sacrifice from working at a
Explain the Exchange rate system in western world The most common exchange rate system in western world during previous century was the fixed exchange rate system. Up to 1930s,
What factors shift out the PPC and what is the opportunity cost of the economy moving out to get back on the PPC? Explain?
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