Define Macro Economics
Macro Economics: Macro economics studies the economy as an entire.
What occurs to economy, when credit availability is limited and credit is made costlier? Answer: Aggregate demands falls
The Income effects will be most strongly positive for: (1) Normal goods. (2) Necessities. (3) Superior or luxury goods. (4) Substitutes and much negative for the complements. Find out the right answer from the above options.
When firms bear the legal incidence of a tax, this is backward shifted while: (1) firms burden consumers by raising their prices. (2) the tax burden is borne by workers in the form of lower wages. (3) resource suppliers seek higher factor payments to
Law of supply: It is the claim which, other things equivalent, the quantity supplied of a good increases whenever the price of the good increases.
What happens when AD > AS past to full employment level of employment?
Describe whether the sale of old scooter is comprised in national income?
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
State main sources of demand for foreign currency? Answer: The four main sources of demand for foreign currency are as follows: A) To buy services and goods from other countries. B) To send a gift abroad.
When cost of a foreign currency increases its supply too increases. Elucidate why?
What is "demand-pull" inflation?
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