Answered: Take as much of your time as you need…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Q. 3 Take as much of your time as you need and do it right. explain everything. Which of the following Items to be Included or Excluded in GDP? Explain with reasons. Food purchased by a foreign tourist at a hotel in Cox’s bazar. Construction of a new house Winning of a lottery prize. Why is it difficult to compare GDP from different countries? Explain it in detail. You are given the following cases; find out the loan-able funds market equilibrium. Also, show them as a graph Changes in capital inflows Changes in perceived business opportunities and in government borrowing

Definition Video Formula Definition Phenomenon in which market supply and demand balance each other. Market equilibrium is the economic state in which the market demand curve intersects the market supply curve, giving us the equilibrium price and equilibrium quantity for which a commodity can be sold and purchased in an economy. When market equilibrium is achieved, it suggests that all resources have been allocated efficiently and that there is just a distribution of income and resources in the economy. Video Formula

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