Define revenue deficit
Revenue deficit: Whenever revenue expenses are greater than revenue receipts, it is termed as revenue deficit.
What is another name of micro economics? Answer: Price theory
What is APS? APS = S/Y.It is the ratio of income to saving which is termed as APS.
When demand for a consumer good is relatively price inelastic, in that case the: (i) total spending of consumers will decline when the price rises. (ii) demand curve is linear and vertical. (iii) price of the good is determined through supply alone. (
Of the given price elasticities [ed] for market demand curves, there the one which is absolutely implausible by the vantage of standard economic theory would be one for that, across all conceivable ranges of prices: (1) ed= 0 and the
Elucidate the components of capital account? Answer: It records are international transactions which occupy a resident of the domestic country changing his assets wi
Severe drought outcomes in a drastic fall in the output of wheat. Examine how will it influence the market price of wheat? Answer: As an outcome of severe drought,
In efforts to offset specific failures of the private sector, government policy within a mixed-capitalist economy would be least reasonably intended at an objective of: (1) creating externalities to spread the costs of various activities across all me
If comparing monopolistic competition to pure competition within the long run: (w) product differentiation definitely improves social welfare. (x) only monopolistic competitors may earn economic profits. (y) only pure competitors oper
I have a problem in economics on Law of supply regarding firms. Please help me in the following question. The law of supply signifies that: (i) Firms provide less for sale at lower prices. (ii) Purchases and prices differ inversely. (iii) Minimum inve
When the U.S. price elasticity of demand for gasoline is 1.0, the price elasticity of demand for gas sold through one of several gas stations along a busy highway: (w) less than 1.0. (x) 1.0. (y) greater than 1.0. (z) zero. Discover Q & A Leading Solution Library Avail More Than 1456158 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1945628 Asked 3,689 Active Tutors 1456158 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
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