Cost-push inflation
Describe cost-push inflation and its major source.
Expert
It refers to inflation due to a rise in the cost of production, which causes aggregate supply to fall. Beyond a point any rise in costs are included in the price at which producers are willing to sell goods. This is reflected in as shifting up; with demand (AD) unchanged it causes higher prices in equilibrium.
One major source is minimum wage laws being enacted. These laws cause wage bills to raise that area a major and unavoidable part of total production costs.
How can Equilibrium of a market be exist?
A tax will be backward-shifted totally when the: (i) demand curve is vertical and the supply curve is slopes up. (ii) demand curve slopes down and the supply curve is vertical. (iii) supply curve is perfectly elastic and the demand cu
Illustrate, why is tax not a capital receipt?
Government tax and transfer payments generally
What do you mean by the term Equilibrium? Also state its proper definition.
Explain the concept of “economies of scale” and “increasing returns”.
What is meant by the term business cycle as described by economists?
If the liability to give a tax is on one person and the burden of tax fall on some other person, state the kind of tax? Answer: These are indirect taxes like sales
What stage of the business cycle is our economy experiencing at present time? proof your answer.
A prosperous person who made higher and higher incomes yearly would possibly benefit most from: (w) proportional tax system. (x) progressive tax system, much like the one in place today. (y) regressive tax system. (z) fixed percentage tax system. Discover Q & A Leading Solution Library Avail More Than 1441424 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1957456 Asked 3,689 Active Tutors 1441424 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
18,76,764
1957456 Asked
3,689
Active Tutors
1441424
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!