Why does price level affect GDP instead of quantity? How do you calculate real GDP? Assuming the economy is operating below its potential output, what is the impact of an increase in net exports on real GDP? Why is it difficult, if not impossible, for a country t...
Joseph Stiglitz, Nobel Laureate in Economics China has rapidly gone from an agrarian and rural economy to a manufacturing and export economy, you might have said it should be congratulated success, extraordinary success, but no sooner is there success, than one has to move on to the next stage...
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Data is the world’s largest commodity, and in today’s digital era, every business wants to make use of it to improve their products and services. According to Enterprise Today, businesses that use data analytics to drive their business decisions are 77% likely to succeed. That’s why ...
when the marginal cost is equal to the marginal revenue C. when Why do firms maximize profits where marginal revenue equals marginal cost? Do firms really calculate marginal cost and marginal revenue to find the profit-maximizing output? In monopolistic...
If you calculate something (e.g., an average) from part of a data set, that’s a statistic. If you know something about 10% of people, such as their favorite TV show, that’s a statistic also. If you survey everyone in the United States to get their voting preference, that’s a...
9. Be memorable with your output You want your target audience and new audiences to know who you are, but what do you want them to think about you? Presumably, not that you’re just like everyone else. Brand recognition is all well and good but what really drives brand awareness is sta...
The construction of urban green efficiency refers to Yu’s method (Yu and Ping 2021) and uses the super-efficiency SBM model and the Globe Malmquist–Luenberger index to calculate green total factor productivity. The specific input-output indicators are shown in Table 1. Table 1 Green total fac...
Is there a problem of a generation gap in modern families? Should children follow in their parent’s footsteps? Zoos claim to contribute to the conservation of species. Can a zoo be a better habitat for a giraffe than a savanna? Should people keep pets? Do companion animals feel comfortable...
The overall economic output will increase by $2 for every dollar increase in government spending or consumer income if the multiplier is two. A government can therefore strive to make subtle fiscal policy changes with minimal implications to national deficits that may have a larger, scaled impact ...