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Explain why we cannot measure the national product simply by adding up the production of all firms.
Why do the economists use real GDP rather than nominal GDP to gauge economic well-being?
Why do you think households' purchase of new housing is contained in the investment components of GDP rather than the consumption component?
the production of 200 units of consumer goods and 300 units of capital goods : a) indicates full employment b) may be a result of unemployment c) may be impossible for now d)
Employment Full employment of human and non-human resources or at least minimization of unemployment is an accepted goal of macroeconomic policy. Also the best way to alleviat
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
The price of gasoline has recently come down as has the quantity. Show graphically and explain what might have caused this.
unplanned changes in inventory are counted as inventory spending by firms.say true or false and justify
Arrow up or down: An increase in the wage for high school graduates __________ the opportunity cost of college. A) arrow up B) Arrow down
Explain the notion of the hidden momentum of population growth. Why is this an important concept for projecting future population trends in different developing nations?
what is a wage? and the difference between real and nominal wages giving examples?
During the year, Calabash Clinic made a $50,000 cash payment toward its bank loan which it had previously recorded; $40,000 was for principal, and $10,000 was to pay the full amoun
Explain the meaning of a production possibilities curve
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