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The idea for the national accounts came during the 1930s depression in the U.S., when decision-makers wanted to get a better sense of by how much economic production had fallen. Simon Kuznets was commissioned to make the national accounts.
The business sector produced slightly more than 77% of GDP, while the household and institutions sector, and the government sector were every estimated to have contributed about 11% of the total GDP.
define law of demand
Explain the term Fordism Between approximately 1890 and 1930-or perhaps 1890 and 1950-a host of innovative technologies and business practices were adopted in the US. Europeans
Why is it true that shortages usually occur mainly when price controls are in effect? In the nonexistence of price controls the shortage generally goes away quickly because price
INFO: Suppose that a firm is currently employing 20 workers,(the only variable input), at a wage rate of $60. The average product of labor is $30, the last worker added 12 units to
The Healthy Spring Water company sells bottled water for offices / homes. The price of the water is $20 per 10 gallon bottle and the company currently sells 2,000 bottles per day.
Suppose that Congress increases the minimum wage to $10 an hour. a. Use a supply and demand model for unskilled labor to show the effect on the number of unskilled workers employed
You are a member of a problem solving group that is concerned with incidents involving losses with their information system (IS). Let us assume that IS loss events can be grouped i
run a s monopoly how will this benefit stakeholders involved, such as the goverment, businesses, and consumers?
During summer of 2006, China increased their reserve requirement for the banking system while maintaining a fixed target for the interbank lending interest rate. Draw a graph of th
how has the haberlers theory of opportunity cost an improvement over the classical theory of trade
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