The unsold inventory are not calculated in GDP calculations

because customer do not yet pay value added tax.

LG.1. and LO.1.1. All before mid exam

Economic convergence theory that did not mention the method

to becoming a developed country is

LG.1. and LO.1.1. All before mid exam

In a world where there are no inflation rates, nominal gross

domestic products always have the same value with real gross domestic products.

LG.1. and LO.1.1. All before mid exam

Frictional unemployment that results from an industry that

loses its competitiveness should be compensated with an industry that growing

its competitiveness.

The number of population in year 2100 were projected to be

decreasing from current number. What is the expected value of nominal GDP in

2100? If we maintain the base year in 2024.

LG.1. and LO.1.1. All before mid exam

Crowding out effect results in lower supply of money. The

money supply curve shift to

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A Population                   400,000

B Employed                     250,000

C Unemployed               30,000

Calculate

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In the short term, higher inflation rates will results in

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Cobb Douglas production were a function of total factor

productivity, capital, and labour. Increasing capital could be done by

LG.1. and LO.1.1. All before mid exam

Cobb Douglas production function suggest that capital and

labor always have its own total factor productivity.