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What are the three approaches to measuring GDP?
The three approaches are:
a) The production approach,
b) The spending approach and
c) The income approach.
what is the relation ship between mp,tp,ap
Suppose we divide Canada into three regions; the west, the centre and the each
• Production Function . The factors of production have to be combined in a particular manner to produce a certain product. Think of baking a cake which involves mixing fixed propor
how can draw the table and diagram of production function function with one veriable
There are two individuals in town, one is high risk and the other is low risk. 1 The probabilities of having an accident for the low risk individual and high risk individual are p
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An economy has only one member Robinson Crusoe. Robinson allocates his time between fishing and collecting fruits. One hour spent finishing yields 4 fish. One hour spent collecting
inflation and policies that are used to combat it
Why narrowness of definition of a commodity may influence price elasticity of demand
Nations trade what they produce in excess of their own consumption to:
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