Explain the difference between: (1 ) the demand for domestic goods; and (2 ) the domestic demand for goods
What will be an ideal response?
The demand for domestic goods represents the demand for goods produced IN a country. This measure will take into account those goods produced domestically and sold abroad (exports) and the fact that some goods purchased domestically were produced abroad (imports). The domestic demand for goods represents the demand for goods by domestic individuals, firms, and government: C + I + G. The difference between the two is NX.
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Invisible hand is a term used by the economist ______ in his 1776 book An Inquiry into the Nature and Causes of the Wealth of Nations
Fill in the blank(s) with correct word
Refer to the below graph. How much is the total amount of tax revenue going to the government?
The graphs below illustrate the market for a product on which an excise tax has been imposed by government.
A. $77
B. $80
C. $42
D. $56