Econ Micro (book Only)
6th Edition
ISBN: 9781337408066
Author: William A. McEachern
Publisher: Cengage Learning
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Textbook Question
Chapter 1, Problem 9P
(Studying Economics) According to the text, economics majors on average make more money than most other majors and have more job opportunities. Are these the primary motivations one might have for studying economics? What are your motivations for studying economics?
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India and China are the two major economies in the Asian continent. Both countries have a trillion-dollar GDP. Suppose to calculate the GDP of the year 2021, India has decided to use the prices and quantities of the year 2021 whereas China decided to use the prices of 2020 and quantities of 2021. You are required to answer the following.
a) What the strategy adopted by India to calculate the GDP of the country.
b) What the strategy adopted by China to calculate the GDP of the country.
c) Which strategy is better? Why?
7. can someone tell me how to solve this equation
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