structural and economic reform measures. The stabilization program reduced inflation as well as fiscal and current accounts deficit and established a healthy foreign exchange reserve position. Economic performance improved with gross domestic product (GDP) growth averaging 5 percent in the 1990s compared with 4 percent in the preceding decade. The acceleration in economic growth was accompanied by decreased incidence of poverty and a distinct improvement of some key social indicators. Rapid growth in
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Study Center Sydney Faculty of Business Assessment item- 3 Class: ECO130– Business Economics Lecturer- Dr. Harpreet Kaur Student Name- Sidharth Shanker Student Number -11511309 Due Date - 30/09/2014 Answer-1 Frictional unemployment occurs when people seek new jobs or when they decide to switch their existing jobs (Deepashree & Agarwal, 2006, p.7.4). In other words frictional unemployment is the time required for people to search for a new job. Frictional unemployment is
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in market structure, and how consumers maximize utility. d. None of the above is correct. Which of the following statistics is the best single measure of an economy's well-being? a. the unemployment rate b. the inflation rate c. GDP per capita d. the trade deficit If GDP rises, a. income and expenditure must both rise. b. income and expenditure must both fall. c. income must rise, but expenditure may rise or fall. d. expenditure must rise, but income may rise or fall. In a simple circular-flow diagram
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Part 1-Micro Economic Principles Applied Why do people spend hours lining up outside stores to purchase the iphone 5, when there are so many cheaper alternatives available? In recent months, an observation was made about consumer behaviour when it came to the purchasing of the recently released model of the iphone 5, by Apple Inc. The devices cost start at $199 us dollars and require a two year service plan. Why then, would persons stand in line for days, to acquire this device? In examining the
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final goods and services produced in the domestic territory of a country during an accounting year. General Economics: National Income in India, Concept & Measurement 6 Gross Domestic Product at Constant price and Current price • GDP can be estimated at current prices and at constant prices. If the domestic product is estimated on the basis of the prevailing prices it is called gross domestic product at current prices. General Economics: National Income in India,
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When we say German GAAP, we refer to principles that are based on German Commercial Code (Nandelsgesetbuch, or HGB), and German Accounting Standards (GAS) that are set by German Accounting Standards Committee (GASC). GASC has similar function as Financial Accounting Standard Board (FASB) in United States – to develop and set accounting reporting standards, the process which includes publication of draft of standards, comments period, revision of draft period, public discussion, and finally, adoption
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Stats Questions II 1.The table below displays a week's worth of data on daily sales at the Crank It Louder Music Store. ??Over that time period, what was the mean daily level of sales? A. ?$3,489.79 ?B. $4,071.42 ?C. $1,643.23 D. $2,829.92 2. The table below displays a week's worth of data on daily sales at the Crank It Louder Music Store. ??Over that time period, what was the median daily level of sales? A. $1,643.23 B. ?$3,489.79 C. ?$3,130.46 D. ?$800.12 3. The histogram below
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is GDP? National Expenditure = National Income = National Output = Gross Domestic Product GDP • GDP = Gross Domestic Product = Total Value of all Spending in an Economy = The Total Value of all final Goods and Services in an Economy regardless of who owns the productive assets. • GDP = C + I + G + (X – M) GNP • GNP = Gross National Product = Total Income Earned by a nation’s factors of production regardless of where the assets are located Real GDP Real GDP = Nominal GDP adjusted
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Different roles of banks, government, central banks, in controlling the business cycle. Bank is a financial intermediary that uses liquid assets in the form of bank deposits to finance the illiquid investments of borrowers. Banks can create liquidity because it isn’t necessary for a bank to keep all of the funds deposited with it in the form of highly liquid assets. Except in the case of a bank run—which we’ll get to shortly—all of a bank’s depositors won’t want to withdraw their funds at the
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Macroeconomy Chapter 6: * Central Park contained one of the “Hoovervilles” that had sprung up all across America as a result of a catastrophic economic slump in 1929. (The Great Depression) * During the time of Great Depression, microeconomics was a well-developed branch of economics, but macroeconomics was not. * In the 1930’s, there were no expanding industries; everything was headed downward. * Microeconomics focuses on how decisions are made by individuals and
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