Only goods that are produced and sold legally, in addition, are included within our GDP. That means that goods produced illegally are not counted. When calculating GDP, transfer payments are excluded because nothing gets produced. Money is simply transferred from one group to another.
kevinnyabute answered the question on February 28, 2018 at 09:10
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What is purchasing power parity?
(Solved)
What is purchasing power parity?
Date posted:
February 28, 2018
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(Solved)
What is an economic structure?
Date posted:
February 28, 2018
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What is the meaning of GDP PPP?
(Solved)
What is the meaning of GDP PPP?
Date posted:
February 28, 2018
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(Solved)
What is the type of economic system in Nigeria?
Date posted:
February 28, 2018
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(Solved)
Considering its economy can Kenya be considered as a poor country?
Date posted:
February 28, 2018
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What type of economic system does Kenya have?
(Solved)
What type of economic system does Kenya have?
Date posted:
February 28, 2018
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Name principles of occupational health.
Date posted:
February 24, 2018
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Discuss the methods used to correct trade deficit in Kenya
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Discuss the methods used to correct trade deficit in Kenya
Date posted:
February 23, 2018
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Discuss the effects of inflation in Kenya and their possible solutions.
(Solved)
Discuss the effects of inflation in Kenya and their possible solutions.
Date posted:
February 23, 2018
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(Solved)
Explain the concept of consumer sovereignty
Date posted:
February 22, 2018
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Define the term inefficiency as used in the simple productions possibility model
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Define the term inefficiency as used in the simple productions possibility model.
Date posted:
February 22, 2018
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State the assumptions necessary to represent production possibilities in a simple production possibilities curve model
(Solved)
State the assumptions necessary to represent production possibilities in a simple production possibilities curve model.
Date posted:
February 22, 2018
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Answers (1)
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State three components of economic efficiency
(Solved)
State three components of economic efficiency.
Date posted:
February 22, 2018
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(Solved)
Define the term economic policy as used in microeconomics.
Date posted:
February 22, 2018
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(Solved)
Explain the difference between microeconomics and macroeconomics.
Date posted:
February 22, 2018
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(Solved)
State and explain the types of isoquants in microeconomics
Date posted:
February 22, 2018
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(Solved)
What is an isocost line?
Date posted:
February 22, 2018
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(Solved)
Why is an isoquant negatively inclined?
Date posted:
February 22, 2018
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What does the slope of an isoquant represent?
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What does the slope of an isoquant represent?
Date posted:
February 22, 2018
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State five assumptions of isoquants
(Solved)
State five assumptions of isoquants.
Date posted:
February 22, 2018
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