Define revenue deficit
Revenue deficit: Whenever revenue expenses are greater than revenue receipts, it is termed as revenue deficit.
Illustrations of price floors comprised: (1) agricultural subsidies upon, for example: corn. (2) usury laws, that are limits on the interest rates on loans. (3) utility rate structures upon natural gas or electricity. (4) rent controls in London, San
Select the right answer of the question. We would expect a cartel to achieve: A) both allocative efficiency and productive efficiency. B) allocative efficiency, but not productive efficiency. C) productive efficiency, but not allocative efficiency. D) neither allocati
The price elasticity of supply can be very approximately computed as the percentage change within: (w) responsiveness of price to variations within the quantity supplied. (x) quantity divided through the intercept coefficient of the supply curve. (y)
The removal of exploitation of labor (or wage payments beneath the value to the society of each and every individual worker’s productive contribution) is automatic when business decision makers: (1) Should set wages via collective bargaining agreements by labor
Price ceiling: Price ceiling refers to the highest price fixed by the government beneath the market determined price (that is, equilibrium price) so that requirements might be made accessible to the common people at a reasonable price. In India the go
Can someone help me in finding out the right answer from the given options. Demands for the productive resources are eventually ‘derived’ from the: (i) marginal utility they directly produce. (ii) Demands for the consumer services and goods. (iii) Disutili
Other things equal, an improvement in productivity will: A) shift the aggregate demand curve to the left. B) shift the aggregate supply curve to the left. C) shift the aggregate supply curve to the right. D) increase the price level.
Pure competitors produce where P is = MC since: (w) their objective is community welfare, not profit. (x) this always allows them excess profits. (y) maximum profit needs that MR = MC. (z) they can set any price they desire Q : Perfect competition ‘In the real world ‘In the real world there is no industry which conforms precisely to the economist’s model of perfect competition. This means that the model is of little practical value
‘In the real world there is no industry which conforms precisely to the economist’s model of perfect competition. This means that the model is of little practical value
The slope of the ray by the origin which is tangent to point b equivalents to: (w) the reciprocal of the price elasticity of demand. (x) P / Q. (y) 0a / 0c. (z) the price elasticity of supply. Discover Q & A Leading Solution Library Avail More Than 1443365 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1952934 Asked 3,689 Active Tutors 1443365 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
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