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.
What are the conditions through which the supply curve will shift?
The demand for a resource will increase if the
In the figure shown below, line T1 depicts a tax system which is: (1) Regressive. (2) Progressive. (3) Proportional. (4) Unbiased. (5) Recessive.
Whenever consumers paid an amount for water which reflects the value of the net benefits they obtain from consuming it, water would outcome: (1) Maximum consumer excess. (2) Zero consumer excess. (3) Total revenue equivalent to variable cost. (4) Zero
The transfer of wealth from developed countries to oil exporting countries (abbreviated as OPEC) which followed sky-rocketing oil prices in the year 1970s points out that the price elasticity of demand for oil was: (i) Unitary. (ii) Relatively high. (
Why change in stock is considered a portion of final expenditure? Answer: The Unsold stocks left with producers are supposed as purchased by the producers themselve
What do you mean by the term Equilibrium? Also state its proper definition.
is studying economic worth your time and effort
Describe the following terms: (i) Business fixed investment (ii) Inventory Investment (iii) Residential construction Investment (iv) Public Investment.
Name the institution that acts as a custodian of nation’s foreign exchange reserves? Answer: The Central Bank is an institution that acts as custodian of natio
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