Definition of shortage
Definition of shortage: It is a condition in which quantity demanded is more than the quantity supplied. The sellers will respond to the shortage by increasing the price of the good till the market reaches the equilibrium.
Definition of shortage: It is a condition in which quantity demanded is more than the quantity supplied.
The sellers will respond to the shortage by increasing the price of the good till the market reaches the equilibrium.
Name the institution that acts as a custodian of nation’s foreign exchange reserves? Answer: The Central Bank is an institution that acts as custodian of natio
Question: Changes in currency supply and demand can be traced back to changes in fundamental supply and demand in foreign and domestic i._____________________ markets and foreign and domestic ii.___________________
If the MPC is .70 and investment increases by $3 billion, the equilibrium GDP will:
Whenever you dine at an “all-you-can-eat” buffet, the rational consumption prototype is to carry on eating till: (1) The restaurant goes bankrupt. (2) You have eaten as much food as it would encompass cost had you made your own meal at hom
What is the impact on income or output and price of excess demand (Inflationary gap)? Answer: In the condition of excess demand (that is Inflationary gap) there wil
1. Examples of command economies are: A. The United States and Japan. B. Sweden and Norway. C. Mexico and Brazil. D. Cuba and North Korea.
When total revenue to a firm is unaffected by small price modifications, then demand is: (i) Relatively price elastic. (ii) Relatively price inelastic. (iii) Unitarily price elastic. (iv) Vertical. (v) Horizontal. Can someone help
Would export businesses choose a rising or declining dollar? Would it be similar for a European tourist on a budget and visiting the Grand Canyon? Explain your answer.
Give some objective of government Budget. Answer: The objectives which are pursued by government via the budget are as follows: A) To attain economic growth. B) To decrease in equalities in income and wealth.
Question: Was the stimulus package passed in 2009 as success? In answering this question the focus should be the articles on the syllabus, but you should also include opinions of other commentators. &nbs
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