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briefly explain any five uses of national income statistics
Component of balance payment: BOP is a statement that summarises all the economic transactions between residents (individuals, companies and other organisations) of the home
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
compute: credit multiplier, maximum change in the money supply
Question 1: What is the equilibrium price and quantity? Question 2: How do you describe the market situation, if the market price is higher than the equilibrium price? Qu
Assume that when an economy has a GDP of $500, Consumption is $550. The MPC is .75. Investment is 25. Begin the problem by setting up an Income/Consumption Schedule like the one on
A person chooses between leisure and consumption. All of their consumption comes from current income. The utility derived from any combination of leisure and consumption is given b
Determine about the gross domestic product Growth By (nominal) GDP-growth we mean % change in (nominal) GDP over a particular period of time. Real GDP growth is stated as perce
Provide an explanation of difference between opportunity and accounting cost, and accounting and economic profits. Then, please provide an example from your experience where opport
Question 1: (a) What are the characteristics of market and command economies? (b) In a number of countries in recent years, there has been a movement towards a greater rel
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