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GDP is an important indicator of a nation's economic performance. It has many components which contribute to the growth of the economy. Oil is a minor component of GDP and therefore it is to be expected that should the price of oil be subjected to a shock, there will be an effect on GDP, whether GDP decreases or increases is dependent on whether the nation is a net importer of oil ,and vice versa. The data used in this analysis is the quarterly growth rate not the total amount of production.
RELATIONSHIP WITH 8 VARIANTS OF NATIONAL PRODUCT AGGREGATESÂ We have shown the distinction between national product at market prices and national product at factor cost, based
Different approaches to measure aggregate output
Critically evaluate measures used by governments and central banks to manage the economies of their countries. By critical evaluation use convincing arguments for or against measur
complexity theory elements
Two animals are fighting over a prey. The prey is worth v to each animal. The cost of fighting is c1 for the first animal (player 1) and c2 for the second animal (player 2). If the
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Explain the adjustment to the new equilibrium price from an increase in demand.
There are a lot of mosquitoes in the island of Liholiho. Only two people live in this island, Robinson Crusoe and Man Friday. Their respective demand curves for mosquito control ar
Q. Describe about Monetary policy? By monetary policy we mean policy directed at controlling the money supply and interest rates. In most nations, central bank is responsible f
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