Examlex
Explain why each of the following items is excluded from GDP: (a) profits from the stock and bond market (b) transfer payments (c) sale of used goods (d) goods and services produced in the home.Explain why the following items are included in GDP: (a) depreciation (b) change in business inventories( c) indirect taxes
Free Market Equilibrium
A state in an unrestricted market where supply equals demand, and prices stabilize without external interventions.
Market Price
The existing value at which an asset or service is offered for buying or selling in the marketplace.
Producers Gain
The increase in total revenue that producers achieve from selling goods or services, typically measured against costs.
Price Elasticity of Demand
Measures how much the quantity demanded of a good responds to a change in the price of that good.
Q9: Why is it not sufficient for money
Q18: Explain why some unemployment is inevitable. How
Q25: Depending on the situation, claim messages can
Q28: Explain the difference between macroeconomics and microeconomics.
Q41: Determine what the level of unplanned investment
Q44: In a message granting an adjustment, you
Q52: You must be honest about your feelings
Q62: Provide some explanations for why prices might
Q71: You should avoid the use of informal
Q72: Describe the various factors that affect the