Define deficit budget
Deficit budget: When expenditure of the government is greater than its receipts, it is termed as deficit budget.
What do you mean by a social welfare function? If you assume that such a function exists, what properties of social optima would be considered by you? Discuss such properties.
The market system's answer to the fundamental question "Who will get the goods and services?" is essentially: 1) "Those willing and able to pay for them." 2) "Those who physically produced them." 3) "Those who most need them." 4) "Those who get utility from them."
Within a purely competitive industry: (w) firm faces a perfectly elastic demand for its product. (x) market demand is completely elastic. (y) individual firms set prices for their output. (z) supply curve is based on fixed costs. Q : Fixed cost in long run Can there be Can there be certain fixed cost in long run? If not why? Answer: No, there can’t be any fixed cost in long run. The main reason is that there is no fixed inpu
Can there be certain fixed cost in long run? If not why? Answer: No, there can’t be any fixed cost in long run. The main reason is that there is no fixed inpu
In the year 1960s, suburbanites start to landscape by employing bark which had formerly been discarded whenever Clear-Cut Forestry Products turned logs to lumber whereas decimating old-growth forests. The extra operating revenue to Clear-Cut from selling bags of bark
Suppose an economy is in equilibrium condition. Its consumption function is C = 300 +0.8Y and investment is 700 find out its national income.
What does leftward shift of PPC point out? Answer: It points out underutilization of resources.
Most of the microeconomic models hinge on suppositions that all choices by each and every individual imitate attempts to: (1) Conform to social mores and cultural norms. (2) Propagate the individual’s gene pool into the future generations. (3) B
The burden of taxation would become additional progressive when federal taxes were reformed in that case: (1) fewer business firms were capable to evade corporate profit taxes. (2) steeper taxes were levied on that harmful goods as alcohol and tobacco. (3) the proport
Surveyors sometimes cannot arrange a probabilistic sample and instead rely on a variety of non-probabilistic techniques, each which poses potential problems. Surveyors could: target a quota of a certain type of res
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