development economics
Government tax and transfer payments generally
Define fiscal policy? Answer: Fiscal policy is the revenue and expenditure policy of government with a view to combat the state of inflationary or deflationary gap
The transfer of wealth from developed countries to oil exporting countries (abbreviated as OPEC) which followed sky-rocketing oil prices in the year 1970s points out that the price elasticity of demand for oil was: (i) Unitary. (ii) Relatively high. (
What is the difference between profit and producer surplus?
When you pay a straight A student in advance to write up your term paper and that person expends the money on a party and then, hung-over, can’t do a good job and hence you wind up with an F for submitting sloppily written gibberish, you encompass just suffered
As longer time periods are taken and a bigger range of adjustments (or substitutions) become obtainable, then demand curves tend to become: (1) flatter, as supply curves become steeper. (2) Steeper as supply curves become flatter. (3) Flatter, and therefore do supply
Do you think that macroeconomic policy should be designed to achieve a measured unemployment rate of zero? Why or why not should this be the case?
With the general equilibrium framework in place, the stage is now set for introducing fiscal and monetary changes and analysing their effects on the general equilibrium. We will first introduce a fiscal change in the form of increase in deficit-financed expenditure, a
Firms which serve customers who vision the firm’s output as perfectly substitutable for the outcomes of huge numbers of other firms confront: (i) Horizontal (that is, perfectly price elastic) demand curves. (ii) Predatory pricing from greater mo
Definition of equilibrium price: It is the price which balances quantity demanded and quantity supplied. The equilibrium price is frequently termed as the "market-clearing" price since both buyers and sellers are p
Describe open market operations? What is its consequence on availability of credit? Answer: Open market operations signify the purchase and sale of government secur
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