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Q. Explain Nominal GDP?
Nominal GDP: Nominal gross domestic product measures total value of all the services and goods produced and traded for money in the formal economy, evaluated at their current money prices. Nominal GDP can grow from one period to the next due to an increase in actual (real) output or/and due to an increase in average prices (which is, as a result of inflation).
description of slutskian approach
Problem 1: (a) Explain the common set of problems that developing countries usually face. (b) In your opinion, which of the problems described in part (a), are more signifi
Change in consumer and producer surplus from price controls * Observations: - The loss is equal to area B + C. - The change in surplus = (A - B) + (-A - C) = -B - C -
MONOPOLISTIC MARKET
Use of ppc in microeconomics
Defining black economy, If you pay your cleaner or builder in cash or for some reason neglect to tell the taxman which you were paid for a service rendered, you participate in the
Traditional inventory control based on the calculation of EOQ At this point, it is worth considering some of the problems faced by companies using the simple inventory model
When measuring price levels in the economy (such as when calculating the CPI index), why is a weighted average used? Because we require giving greater emphasis to prices at whi
how do i make one on excel
Discuss about Modern economic growth Modern economic growth is also a shift in the kinds of things we do at work and play and in the way we live. Back in immediate aftermath of
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