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What do you mean by Gross Domestic Product?
Gross Domestic Product (GDP):
It measures the value of economic activity which is output produced, into the geographical boundaries of a country in a specified period of time, generally one year. Gross Domestic Product involves the value of products made in this country through overseas-owned business.
.measure to control inflation
A company is researching the effectiveness of a new web site design to decrease the time to access a website. Five web site users were randomly selected and their times (in seconds
what is economic laws ans characteristics of economic laws?
definition and charactoristics of index numbers.problems while constructing index numbers
Long Run Equilibrium:Graphical Analysis In the long run the natural rate of output is the level of output to which the economy will tend to adjust in the long run. This indicat
Figure below demonstrates a more developed version of the circular flow. In this figure we see how goods flow through various sectors of the economy. Figure Money in the c
What is Real GDP To be able to make reasonable comparisons of GDP over time, we must adjust for inflation. For instance, if prices are doubled over 1 year then GDP would doubl
Question 1: Discuss the alternative theories of the demand for money and their relevance in specifying a demand for money function for a small island developing economy like
In real life, the operation of simple multiplier is affected by many leakages. Leakages in the multiplier arise out of the following reasons: (1) Saving: If all the income is sp
Analyze how a model of the labor market can be used to explain wage and employment for healthcare workers.
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