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Assuming an economy with no government and no foreign trade. Measure GDP for the following output scenario: There are three firms: firm A is a minning company, firm B is a stee
What is money has nothing to do with token We also consider that what is money has nothing to do with token or commodity itself: USD is money in United States but not in
Market questions come in two types: Type 1: you are given the exogenous variable change and you must shift the correct curve in the right direction and then determine the new pr
Four different measures of GDP Using circular flow model we see that there are 4 equivalent ways of measuring GDP: Using the definition: market value of all finished goo
If a social entrepreneur is relying on contributions, are there not risks in being accountable and using that money wisely?
What is The law of comparative advantage The law of comparative advantage, though, suggests that it would be unwise of UK economy to try to replicate German model. First German
What are the international economic crisis A current account surplus can only take place in one nation if there is a current account shortage in another country. So it makes no
define history and full deatil of command economy
There is a joke among economists that children are an "inferior good." In many countries there appears to be a negative relationship between income and the number children in a hou
why is international trade important for south Africa
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