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describe the relation of money with wealth and incomeit is very possible to have a high income but no money and no wealth or to be very wealthy and
compare money with wealth and incomemoney isnt the same as wealth an individual may be very wealthy however have no money for instance by owning
what is money has nothing to do with tokenwe also consider that what is money has nothing to do with token or commodity itself usd is money in united
what is money and what is not moneyif you are trying to conclude if something is money simply consider whether it would be accepted in most stores as
what are the two types of moneyin most countries one can identify two types of money currency and coins bank deposits total value of all the money
describe in short about moneymoney in economics is actually not as simple to understand as you may think and many use the term money in a way
definition of money we should define what we mean by money money has a long as well as interesting history and an understanding of how we came to use
how can we define the real wage as nominal wagewe define real wage as nominal wage divided by a price index typically cpi in the illustration above
explain the real wage with exampleconsider following scenario you work full time and during january 2008 you make 2000 euro after tax a specific
state in brief the nominal wage level in macroeconomics we are generally not interested in the wage for a specific individual though in the average
define the term- wages and income remember that by wage we mainly mean what you receive for working one hour whereas income is the total revenue from
determine the term- nominal wagesthe nominal wage is wage per unit of time in currency used in the country- what we mainly just call wage when we
how unemployement increases by firm relocating productionif unemployment increases in a specific city because of a firm relocating production its
state the both -cyclical and classical unemploymentcyclical unemploymentunemployment because of a recessionclassical unemploymentunemployment because
describe the structural unemploymentindividuals who are unemployed as their skills are no longer in demand where they live this kind mainly results
what is frictional unemployment individuals who are temporarily unemployed when transiting between jobs or just entering labour market this kind is
introduction of labour marketa vital macroeconomic variable is the total amount of labor which is used in a certain time period amount of labor and
explain the term- inventory investmentwe would have a negative inventory investment whenever inventories decrease by net investments we mean gross
describe the meaning of word -investmentwhen we use the word investment we generally mean gross investment essentially gross investment comprises all
what is the meaning of capital - gross domestic productby capital we characteristically mean manufactured goods which are used to produce other goods
what are the four different measures of gdpusing circular flow model we see that there are 4 equivalent techniques of measuring gdp using the
the government rest of the world and the financial markets total expenditure of the government may be divided into two parts transfers to the private
state the private sector in the circular flow private sector total income is known as the national income as private sector receives entire return
determine the categories of finished goodsfinished goods in the goods market are divided into 4 categories private consumption going to private
firms in the circular flowwe divide all firms into 3 categories fr comprises all firms which acquire raw material farm products iron ore and so on fh