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Q. Explain about Gross Domestic Product?
Gross Domestic Product:Value of all the services and goods produced for money in an economy, evaluated at their market prices. Excludes the value of unpaid work (like caring reproductive labour performed in the home). GDP is calculated by adding up the value-added atevery stage of production.
Recent developments in demand theory
a. The diagram above depicts the current position of a hypothetical economy using the Keynesian Income/Expenditure approach. If national income is currently at Y1 explain why this
when total production fall what,s the status of average product and marginal product
During the 1990s, technological advance reduced the cost of computer chips. Explain, with the use of supply and demand diagrams, how the following markets are affected in terms of
derive demand equation
what is break even quantity
Using a demand and supply diagram,analyse the effect on the market for Ghanaian football shirts. a. A fall in incomes in Ghana and neighboring countries
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How might governments lower the natural rate of unemployment? An easy way to organise the answer is to separate possible solutions into two broad groups; interventionist and m
1. Suppose we observe that the price of soyabeans goes up while the quantity of soyabeans sold goes up as well. Use the supply and demand curves to illustrate two possible explanat
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