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A: B. GDP serves as a complete assessment of a country's economic health since it is a wide measure of…
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Q: What is a economic sector
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A: Macro economics is the study of economy as a whole. It takes into consideration the entire economy…
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A: Given information: *KLM is a Dutch company *French manufactures the airplanes
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A: Meaning of Macroeconomics: The term macroeconomics refers to the situation of economic and…
Q: Why do you suppose that U.S. GDP is so much higher today than 50 or 100 years ago?
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Q: ) How can GDP be used to compare Standards of Living?
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A: Here, price and output of two years, 2020 and 2021, is given where 2020 is base year.
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A: 7. The argument is incorrect. The GDP considers only the final good and not the intermediary value…
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A:
Q: Explain the two sources for potential GDP growth words and diagrams
A: GDP is a proportion of the worth of the merchandise in goods and administrations created in the…
Q: Aside from GDP, why should we use the Human Development Index to measure the economic development ?
A: GDP or gross domestic product is the production of goods and services done within an economy during…
Q: Three sector economy and four sector economy?
A: Circular Flow of Income: It refers to the cycle of generation of income in the production process,…
Q: Identify the three main economic indicators and what each indicator measures.
A: An economic indicator is a macroeconomic measurement used to understand current and future economic…
Q: For each of the following say where they will show up in GDP calculations (i.e. under C, I, G,…
A: GDP refers to the value of the final production of all the services and goods within the nation in a…
Q: Sam bakes a cake and sells it to Carla for$10. Woody pays Diane $30 to tutor him.In this economy,…
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Q: Define private saving, public saving and national saving. How are they related?
A: Savings is the income which is not spent on the consumption and saved for future consumption.
Q: discuss why do national income and personal income differ, what happened during economics growth
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Q: Define Primary Sector? Why is the role of the primary sector vital for economic development?
A: Activities specifically dependent on natural resources are referred to as the primary sector. It is…
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- In 1980, Denmark had a GDP of 70 billion (measured in U.S. dollars} and a population of 5.1 million. In 2000, Denmark had 3 GDP of 160 billion (measured in U.S. dollars} and a population of 5.3 million. By what percentage did Denmarks GDP per capita rise between 1980 and 2000?Would you usually expect GDP as measured by what is demanded to be greater than GDP measured by what is supplied, or the reverse?What is capital deepening?
