What is the formula for calculating GDP when given wages, rent, government spending, consumer spending, private (I.e. business investment), and net exports? Gross Domestic Product The gross domestic product is a measure of the ...
Also, we know that in a basic market the price that the consumer pays for a good is the same as the price that the producer gets to keep for the good. Therefore, the P in the supply curve has to be the same as the P in the demand curve. The equilibrium in a market occurs ...