Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Q. What do you mean by Gross domestic product?
Perhaps the most significant concept in macroeconomics is Gross Domestic Product (GDP):
Gross Domestic Product (GDP) is expressed as the market value of all finished goods and services produced in a country during a particular period of time
Note that we only embrace finished services and goods- which is, anything which is sold directly to the consumer. Electric power sold to a steel mill isn't included whereas all the electric power sold directly to consumers is included. Reason is simply that we want to avoid 'double counting'. Consider for illustration the production of cars. Car producers have parts produced by other firms that in turn have parts delivered by other firms and so on. If we were to count the value of everything produced by a firm, then most parts of a car will be counted many times. This is why only the value of finished car is used in the calculation of GDP. Note, though, that if a firm buys a robot which it uses in the production of cars, then this robot is counted (if it is produced in same country). Car producer is then 'final consumer' of the robot - no value is added to it and it isn't resold to another firm.
Which of these variables are discrete and which are continuous random variables? a) The number of new accounts established by a salesperson in a year. b) The time between customer
what goals and policies are being discused to address the crowding out effect?
What is Cost-push inflation Cost-push inflation takes place when costs of production increase causing short-run aggregate supply curve to shift to left. The main causes of c
In a city of 120,000 people there are 20,000 Norwegians. What is the probability that a randomly selected person from the city will be Norwegian?
You are the manager of a firm that receives revenues of $50,000 per year from product X and $80,000 per year from product Y. The own price elasticity of demand for product X is -3,
Which of the following is a reason why the aggregate demand curve slopes downward? a. At a higher price level, fewer goods and services are available. b. Periods when the price lev
GDP is an important indicator of a nation's economic performance. It has many components which contribute to the growth of the economy. Oil is a minor component of GDP and therefor
The Price ceiling is the law that sets a maximum price below the equilibrium market price, but a price floor is the law that sets a maximum price above the market equilibrium price
You need to choose between two replacement compressor options. One costs $6400 and is 70% efficient. The other costs $9800 and is 85% efficient. Both have an average life of 8 year
why is credit multiplier lower than money multiplier
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd