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What is productivity?
Productivity or average product (AP):
It is output person which is output divided through number of workers AP= Q/L. There labour Productivity can be demonstrated as output per worker or output per hour worked.
full overview as-ad model
Granting a loan: When commercial banks lend, they create money. This can be explained by extending the hypothetical example of Bank
factors affecting national income
There are many ways to measure the national income. a) List at least 5 of themk question #Minimum 100 words accepted#
Q. Describe Nominal and real interest rates? To distinguish real interest rate from the ‘normal' interest rate, latter is termed as the nominal interest rate. Nominal interest
concepts of land economics?
Prepare an essay regarding the concept of maximization and the assumptions associated with the behavior of the economic man.
Aggregate Supply in the Short Run Production takes place in business sector on the basis of an expected price for its output. However, costs are incurred in anticipation of sa
Aggregate supply Remember that labor demand provides us profit-maximizing quantity of L for a given real wage. If W/P is given (as it's in cross model), we can find profit-maxi
effects of real wage existing in the market that is lower than the equlibrium real wage.what will happen in this labour market if it is perfectly competitive
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