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Assuming an economy with no government and no foreign trade. Measure GDP for the following output scenario:
There are three firms: firm A is a minning company, firm B is a steel producer and firm C is a car manufacturer.
In a specific year firm a sells Rs. 100 million worth of iron ore to firm B, firm B sells Rs. 200 million worth of steel to firm C and firm C sells Rs. 500 million worth of cars to general public.
If there are no alters in inventories, no taxes and no other producers in the economy, what is GDP?
In your answer, discuss the Federal Reserve's use of open-market operations to influence the money supply and the respective consequences of such actions. Include a discussion of t
graph the central equation of the solow model. argue that a steady state exists and that the economy will converge to this point from any initial starting capital stock
Why are the imports subtracted when GDP is measured in expenditure approach? If you woke up in the working & found that nominal GDP has doubled overnight. what statistic wou
difference between mercantilism and absolute advantage
What is the price elasticity of supply? Price elasticity of supply: The price elasticity of supply is a measure of the receptiveness of the quantity of a good supplied to pr
What are the international economic crisis A current account surplus can only take place in one nation if there is a current account shortage in another country. So it makes no
Find the labor force, the working-age population, the number of employed workers, and the number of unemployed workers. Unemployment rate 5.60 % Participation rate 62.50
Compared with the situation before 1981, the marginal tax rates imposed on individuals and families with high incomes are now lower. What was the top marginal personal income tax r
To determine whether high blood pressure affected whether a person had a stroke, a sample of 300 people who had had strokes are examined. In the sample, 37% had high blood pressure
The AS-AD model with inflation When we remove assumption of constant prices to allow varying real wages. Resulting model was known as AS-AD model. Similarly we now remove the a
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