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Uses of national income statistics:
- It helps to organize economic data and activities.- It helps to classify economic activities into various segments or sectors.- It helps to keep track of total production within the macro economy.- It helps to determine the economic performance of a country.- It helps in policy formulation and implementation etc.
Patricia nominal annual income
a curve on a graph shows the relationship between apartment rent in a town and the quantitiy of apartments that people want at each rent. A new industry enters the town and the pop
all information about demand analysis
concept of narrowness in pure economics
MRP Technique - Estimating the Level of Output for the Target Year Taking into account several parameters of economic growth such as past trends, present as well as proposed
law of diminshining marginal utility
Suppose that in an economy 100 worker-hours produce 160 units of output in year 1. In years 2 and 3 worker hours are 120 and 130 and units of output are 216 and 260, respectively.
Average Fixed Cost (AFC): AFC is the fixed cost per unit of output. AFC = TFC/y Since the TFC is constant throughout the short run, as y increases AFC will decline. Therefore
what is microeconomics
Measure Inflation : There are two common methods of measuring inflation: (i) percentage change in price index numbers (PIN) , and (ii) change in GNP deflator. The tw
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