Download file to see previous pages...
Other costs will be how much money you will have to forsake by taking a leave and going to the other city. In simple words, you will have to consider both the explicit costs and implicit costs (which are in terms of opportunity cost).
4) The answer to this question is not one. There can be many answers to this particular question depending on the current scale of operations of the firm. For example, if the firm is operating near its full capacity, in the short run, hiring more workers is not going to increase the output in proportion to the workers hired. However, in the long run, if the firm increases the plant size and machinery, then hiring more workers is going to be more beneficial and output is going to be increased in proportion to the workers
...Download file to see next pagesRead More
Pre-eminence of US Dollar 8 2.1.2. The Role of US Dollar 11 2.1.3. US Dollar: Functions and Current Stature 13 2.1.4. Benefits that Accrue to US Dollar as the Preferred International Currency 18 2.2. The Debate 21 2.2.1. The Return of the Triffin Dilemma 21 2.2.2.
[872,914+ 205,063+ 327,682+ 386,648- 418,671] million = ? 1,373,636 million ii. The growth of GDP from 2008 to 2009 is [(1,373,636-1,408,839)/ 1,408,839]*100 = -2.5% (approximately) iii. The UK is running trade deficit in both of the years as exports are lower than imports in 2008 as well as in 2009.
However, emerging countries, which were considered vulnerable are exhibiting a remarkable resiliency, and growth seems to point to the pre-2008 breakout levels. In essence, the performance exhibited by the emerging countries is viewed as a significant engine of expansion in regard to the present global economy (Lachman 64).
GDP measures specifically the total income and the total production of a nation. GDP is calculated by combining consumption, investment, government spending and net exports of a nation. It is important to note that GDP counts only
r Price Index is used to indicate the changes that takes place in the retail prices of the selected commodities and services which a common group of people uses or purchases. Thus the index is used to reflect changes in the final prices of the key commodities and services that
For Greece, the economic situation remained concealed until the mid-2008 when there was a dramatic increase in public debt as observed in numerous advanced economies. Currently, the financial tragedy in Greek brings out three primary
Trough is a period of stagnant economic growth. Recovery is the above-average economic growth period while the peak marks the highest level of economic growth in which the economy is at full employment. NBER defines
b. To be able to restore the economy to full employment; the government must find ways that it promotes local businesses. When local businesses experience a high demand from their products they increase their labor