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Real and nominal measures
Output, Expenditure and Income can be valued at current market price in which case we speak, for example, of money or Nominal NNP, or NNP valued at current prices. Changes from one year to another are then a compound of changes in physical quantities and prices. Output, Expenditure and Income can also be valued at the prices ruling in some base year. In this case, each year's quantity is priced at its base-year prices and then summed. We then speak, for example, of GDP at constant prices, or REAL GDP. Changes in constant-price GDP give a measure of real or quantity changes in total output.
Functions or Purposes of Taxation The functions of taxation can be discussed from the activities of the government it is meant to achieve. These are: a. Raise reven
examine the endogenous and exogenous determinants of money supply
explain marris model
Bain''s limit pricing theory advantages and disadvantages
THE STRUCTURE OF POPULATION AND SUPPLY OF LABOUR The structure (also called age distribution or composition) of population, or the number of people in the different age groups
Why do the inclusion of opportunity costs in cost-and-supply analyses help individuals make better decisions and improve outcomes?
Labor demand for low-skilled workers in the United States is w= 24 -0.1E where E is the number of workers (in millions) and w is the hourly wage. There are 120 million domestic U.S
Discuss the determinants of price elasticity of demand
Let Consider an economy with three states. The following set of stocks is traded: x 1 =(2,2,0) x 2 =(1,0,3) x 3 =(0,2,4). The t=0 prices of these stocks are give
Determine The scope of managerial economics The scope of managerial economics involves following subjects: 1. Theory of demand 2. Theory of production 3. Theory of
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