Consider an economy with a constant nominal money supply, a constant level of real output Y = 100, and a constant real interest rate r = 0.
September 3, 2020
In recent decades, women have worked more hours in paid jobs and fewer hours in uppaid housework. Explain how this increase in work hours affect GDP…
September 3, 2020

Robinson Crusoe produces upper-loop product of $1000. He pays $750 in wages, $125 in interest, and $75 in rent. What must his profit be? If three-fourths of Crusoe’s output is consumed and the rest is invested, calculate Crusoland’s GDP with both the product and the income approaches and show that they must agree exactly.

Robinson Crusoe produces upper­loop product of $1000. He pays $750 in wages, $125 in interest, and $75 in rent. What must his profit be? If three­fourths of Crusoe’s output is consumed and the…

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