Define Macro Economics
Macro Economics: Macro economics studies the economy as an entire.
What is meant by the term business cycle as described by economists?
What are the components of aggregate demand (AD)? Answer: The components of AD are as follows:AD = C + I + G + (X - M) By Simplifying AD = C + I, Here C refers to Household consumption demand and I refer
Explain the concept of “economies of scale” and “increasing returns”.
‘What occurs in the money market when there is a raise in income?’
What must be added to NNPMP to obtain net national disposable income? Answer: The Net current transfers from abroad must be added to NNPMP to get national disposabl
‘Must a country which is less proficient at generating all goods use import controls to decrease imports from additional countries?’
What happens when AD > AS past to full employment level of employment?
Depreciation of a currency signifies fall in value of domestic currency in terms of foreign currency. Illustration: When value of rupee in terms of US dollars falls, state from Rs. 45 to Rs. 50 per dollar, it will be a condition of depreciation of Ind
Why the value of MPC is not greater than 1? Answer: This is because change in consumption can never be more than change in income.
Which of the following lists includes only capital resources (and ther Which of the following lists includes only capital resources (and therefore no labor or land resources)?
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