Qualification > Commerce
ECO PAPER 1
CrEaTuRe_X:
--- Quote from: DArkdefender on June 12, 2009, 02:54:58 pm ---sorry to dissappoint you but the question about the GDP was total goverment expenditure,because GDP=consumption+investments+exports+goverment expenditure,and since it was a closed economy so no exports,the only total goverment expenditure left
--- End quote ---
Oh, really? I read the questions 4-5 times, didnt see any thing about closed economy at all... Think I screwed that up than.
thukon:
I think the GDP one is government spending.
CrEaTuRe_X:
--- Quote from: therealhyebyekadal on June 13, 2009, 04:44:34 am ---to all those people saying tht its puble expenditure then why did the question say
gross investment??? shouldnt it include the public expenditure also>???/
atleast part of it.
and in real life u cant have NO exports thats not very convincing .
--- End quote ---
It doesnt need to be, Examiner *censored* was just testing our theoretical knowledge, weather we knew what closed economy is, I didnt even read the question, about the person who is willing to pay back the debt, It is higher salary, If the price of the goods increase, say chocolates or chips, (because it never said anything about ESSENTIAL goods, we take it as general price increase), he will spend less, the only logical answer is Higher salary, as more money means he has more disposable income to spend.
aquarian93:
--- Quote from: CrEaTuRe_X on June 13, 2009, 08:44:37 am ---
--- Quote from: therealhyebyekadal on June 13, 2009, 04:44:34 am ---to all those people saying tht its puble expenditure then why did the question say
gross investment??? shouldnt it include the public expenditure also>???/
atleast part of it.
and in real life u cant have NO exports thats not very convincing .
--- End quote ---
It doesnt need to be, Examiner *censored* was just testing our theoretical knowledge, weather we knew what closed economy is, I didnt even read the question, about the person who is willing to pay back the debt, It is higher salary, If the price of the goods increase, say chocolates or chips, (because it never said anything about ESSENTIAL goods, we take it as general price increase), he will spend less, the only logical answer is Higher salary, as more money means he has more disposable income to spend.
--- End quote ---
im sure it said ESSENTIAL goods
:)
CrEaTuRe_X:
--- Quote from: aquarian93 on June 13, 2009, 09:46:57 am ---
--- Quote from: CrEaTuRe_X on June 13, 2009, 08:44:37 am ---
--- Quote from: therealhyebyekadal on June 13, 2009, 04:44:34 am ---to all those people saying tht its puble expenditure then why did the question say
gross investment??? shouldnt it include the public expenditure also>???/
atleast part of it.
and in real life u cant have NO exports thats not very convincing .
--- End quote ---
It doesnt need to be, Examiner *censored* was just testing our theoretical knowledge, weather we knew what closed economy is, I didnt even read the question, about the person who is willing to pay back the debt, It is higher salary, If the price of the goods increase, say chocolates or chips, (because it never said anything about ESSENTIAL goods, we take it as general price increase), he will spend less, the only logical answer is Higher salary, as more money means he has more disposable income to spend.
--- End quote ---
im sure it said ESSENTIAL goods
:)
--- End quote ---
haha, ok if it makes you sleep better at night, it did. ::)
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