Question
a) Define durable and non-durable goods.Compare the impact on the demand for these goods along the phases of the business cycle. b) GDP is not
a) Define durable and non-durable goods.Compare the impact on the demand for these goods along the phases of the business cycle.
b) GDP is not being able to fully measure issues of economic welfare.Discuss five (5) shortcomings or limitations of GDP as a measure of economic welfare.
c) Define "barriers to entry and exit" and provide one (1) example.
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Economics of Money, Banking and Financial Markets
Authors: Frederic S. Mishkin
9th Edition
978-0321607751, 9780321599797, 321607759, 0321599799, 978-0321598905
