Business cycle
What is meant by the term business cycle as described by economists?
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It refers to alternating increases and decreases in the level of business activity which is measured by the level of real GDP. The changes in activity levels are manifested in other variables like consumption spending, interest rates, consumer confidence levels, business confidence, unemployment levels, inflation rate, among many other indicators.
People in whole the world confront the difficulty of scarcity at always because: (i) restricted resources and times preclude producing all the goods people need. (ii) greedy capitalist monopolies charge excessively high prices. (iii) international mar
Examples of command economies are: a) the United States and Japan b) Sweden and Norway c) Mexico and Brazil d) Cuba and North Korea
‘What occurs in the money market when there is a raise in income?’
Definition of surplus: It is a condition in which quantity supplied is more than quantity demanded. To remove the surplus, producers will minimize the price till the market reaches to equilibrium.
Describe functions of central bank? Answer: (A) Issue of currency: Central bank is the only authority for the issue of currency
With the general equilibrium framework in place, the stage is now set for introducing fiscal and monetary changes and analysing their effects on the general equilibrium. We will first introduce a fiscal change in the form of increase in deficit-financed expenditure, a
When total revenue to a firm is unaffected by small price modifications, then demand is: (i) Relatively price elastic. (ii) Relatively price inelastic. (iii) Unitarily price elastic. (iv) Vertical. (v) Horizontal. Can someone help
What is the main difference between FED targeting the interest rate versus inflation and which one is Bernanke using nowadays? Name some countries which use this method nowadays.
Illustrations of macroeconomic aggregates would NOT consist of the: (1) tax responsibilities of a family. (2) unemployment rate. (3) level of national income. (4) supply of money. (5) rate of inflation. Can someone
Inflation is frequently described as "too much money chasing too few goods." Is this a satisfactory definition?
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