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A fisherman usually works 50 hours and catches 50 kg of fish every week. So let's say that his potential (or "natural") output is 50 kg of fish. Now suppose his boss orders him to work 80 hours per week and catch 80 kg of fish. This 80 kg of fish is his real output and exceeds his potential output of 50 kg. This is not necessarily a good thing and ...


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The most simple answer I could give is this; they have more revenue and less costs. A multinational company, has branches all over the Earth and utilizes these and their resources to their fullest extend, with utmost efficiency. Kindly note how a company is much easier to run than a nation, with regards to uncertainty, risk - danger and of course, budget ...


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A lot of the answers you've already received address questions like "what is the benefit to trade" or "why do we have specialization of labor." I think this is a little more basic than what you asked--I'm assuming you meant not 'why do we have an economy' but "why do we need to 'get the economy moving again' right now", rather ...


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Its because the student did not produce any value added in the production of the book. She used the book and then basically transferred it to the bookstore. On the other hand, the bookstore may repair the book and sell it for a \$10 profit. (the bookstore may be advertising, displaying, and other services). The \$10 reflects this additional value added in ...


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Revised: The sale of the old house is not counted toward GDP as GDP is intended to measure the value of currently produced goods and services in the economy. Used goods are not currently produced, and were already counted the year they were newly produced. However, the services provided this year by real estate agents are in the current year, so the market ...


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Quarterly GDP seasonally adjusted source: https://aneconomicsense.org/category/econ-data/gdp-productivity/ AnEconomicSense.org by Frank Lysy Monthly unemployment rate seasonally adjusted Source: https://www.researchgate.net/figure/Seasonal-adjustment-of-US-unemployment-using-the-defaults-of-seasonal-The-result-is_fig2_329822239 by Christoph Sax and ...


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