Explain how real gdp is derived explain what demand and, Business Economics

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Explain how real gdp is derived explain what demand and

1) Explain how Real GDP is derived?

2) Explain what Demand and Supply Shock are? Give an example of each that have occurred in our economy in recent history?

3) How do you determine the optimal production level for your product? Explain.

4) Using the income approach, explain each component and how GDP is ultimately calculated? How is National Income the derived?

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Business Economics: Explain how real gdp is derived explain what demand and

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