Econ question
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Equilibrium quantity: It is the quantity supplied and the quantity demanded at equilibrium price.
Explain the main features of Harrod - Domar Growth model. How does the Harrod Domar model explain the occurrence of trade cycles?
Gross domestic capital formation is always greater than gross fixed capital formation
Administrative revenue: Administrative revenueis the revenue which occurs on account of the administrative function of government. It comprise: (a) Fees (college/school) (b) License fees paid to obtain permission to carry out a service (c) Fines and p
What is meant by the term business cycle as described by economists?
Involuntary unemployment: Involuntary unemployment terms to a condition in which people that are willing to work are unable to obtain work.
In calculating the GDP national income accountants:
What is the base of categorizing receipts into revenue and capital receipts?
Macro Economics: Macro economics studies the economy as an entire.
What are the limitations of using GDP as an index of welfare of a country?A) The N.I. figures provide no indication of the population, skill and resource of the country. Thus the levels of welfare stay low.B) A higher N.I. migh
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