GDP using the expenditure approach is expressed as GDP=C+I+G NX. Explain each element and what it measures. Fully explain one method of measuring GDP (hint: use one of the components mentioned as an example). Create an economy that consists of one good and intuitively explain how and why...
Suppose you purchase a used car. Is this included in the calculation of this year's GDP? Explain. Explain how the consumer price index and GDP work together to measure price index change from year to year. How is GDP of a nation related...
6)CPI: 7)CPS: 8)CPC versus CPM: 9)What is the difference between CPA and CPL? What Is Cost Per Thousand (CPM)? What exactly is CPC? CPL: What Exactly Is CPA Marketing? What exactly is CPV? CPI: CPS: CPC versus CPM: CPM:CPM allows you to directly influence how much brand awa...
Is inflation desirable and what can be done to control inflation in a market economy? What is the Consumer Price Index (CPI)? How has the CPI be Suppose that inflation is 2 percent, the federal funds rate is 4 percent, and real...
Explain how the CPI is computed. Using examples, explain the impact of externality on the markets. Explain the meaning of average cost. Explain predatory pricing. Differentiate Marginal Enforcement Cost and MCE and give examples of each. Is MCE a private or a public cost? Explain. Explain the...
Explain in words what the marginal productivity of labor and average productivity of labor measures and why this is important Define the "multiplier effect," including its limitations. Explain how the CPI is computed. Explain the process of that will lead to market equilibrium. Explain the ...
When measuring economic activity, fully explain the differences between GNP and NNP. Explain the following concepts in detail: GDP and GNP. What is GDP and why is it important? Explain the two main methods used to measure GDP. How do you calculate GDP using the expenditure method and the in...
Gross Domestic Product | GDP Definition, Equations & Benefits from Chapter 5 / Lesson 6 148K What is real GDP? Learn how to calculate GDP. See the differences between nominal GDP and real GDP, how to calculate them, and the meaning of ...