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Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383

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Chapter
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BuyFindarrow_forward

Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383
Textbook Problem

What is the difference between short-run equilibrium and long-run equilibrium?

To determine

Explain why sales and stock purchase are not counted in GDP.

Explanation

GDP is the sum of all goods and services produced in a country. In a country, if the stocks are purchased and sold then no production will occur there and it represents the trading of current assets...

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