Econ question
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Explain the main features of Harrod - Domar Growth model. How does the Harrod Domar model explain the occurrence of trade cycles?
Economists agree that inflation beyond a moderate rate is undesirable as it can often prove disastrous and therefore, it must be kept under control. Economists agree also that an appropriate mix of fiscal and monetary policies can be helpful in controlling inflation.
The market system's answer to the fundamental question "How will the system promote progress?" is essentially:
Explain the impact of changes in fiscal and monetary policies in curtailing inflation?
The hypothetical information in the following table shows what the economic situation will be in 2015 if the Fed does not use monetary policy: Year Potential GDP Real GDP Price Level 2014 $15.2 trillion $15.2 trillion 110.0 2015 $15.6 trillion $15.8 trillion
Explain the concept of “economies of scale” and “increasing returns”.
In a graph of competitive market in equilibrium, the net surpluses producers and consumers enjoy generally equivalents the area among the: (i) Demand and supply curve however to the left of point of the market equilibrium. (ii) Horizontal axis and a 45°line origin
planned investment. planned saving. the difference between planned saving and actual saving. the difference between planned investment and actual saving.
Government tax and transfer payments generally
What occurs to economy, when credit availability is limited and credit is made costlier? Answer: Aggregate demands falls
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