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State the term- - GDP is a flow Lastly, note that GDP is a flow variable and not a stock variable. By a flow variable we mean a variable which is measured in something per uni
Q. Explain about Nominal wage level? In macroeconomics, we are usually not interested in the wage for a specific individual though in the average wage for all employed individu
How is the global social progress being measured today? Name some indicators of development progress that you believe reasonably reflect actual progress. What roles do corporate ci
Q. Define the Real wage? Consider the following scenario. You work full time and during January 2008 you make 2000 euro after tax. A certain basket of goods and services costs
Suppose that the U.S. Department of Agriculture (USDA) administers the price floor for cheese, set at $0.17 per pound of cheese. (The price floor is officially set at $16.10 per hu
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Explain about the diminishing returns to an input. There are diminishing returns to an input while an increase within the quantity of which input, holding the levels of each of
Members of the Organization for Economic Cooperation and Development are: 20 countries formerly signed the Convention on the Organization for Economic Co-operation and Develop
Gross Domestic Savings Income not devoted to current consumption is saved. In an economy during a particular year some units will consume less than their income while some wi
This 24 year 1 quarter period should offer sufficient insight into the short term and long term correlation between the variables. Figure - A graph showing the trend of
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