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Imputed values included in GDP are the:
A) market prices of goods and services.
B) estimated value of goods and services that are not sold in the marketplace.
C) price of goods and services measured in constant prices.
D) price of goods and services measured in current prices.
what is a wage? and the difference between real and nominal wages giving examples?
Once we have monthly data on a price index we can evaluate the inflation. In most nations, the percentage change in price index during one month is small. Hence it is more common t
WHAT IT MEAN
what is meant by PPF?
what is the basis of fixation
Goods in the circular flow If Y R is total value of all goods going from F R to F H , then total value added from all firms in the F R box is equal to Y R (they don't pu
Subsistence theory of wage determination
Q. Evaluate Nominal wages? Nominal wages W = (W/P).P The nominal wage is equal to the real wage times the price level. Because the real wag
What is this underlined phrase above referring to in the chapter lecture? Select one: a. Physical capital b. Social capital c. Human capital d. Entrepreneurship e. Growth com
Can growth arise without development? Growth is just one feature of development and therefore is an essential but not enough condition for economic development. For example, g
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