Economic
Economic systems differ according to which two main characteristics?
What is "demand-pull" inflation?
The law of equivalent marginal advantage is violated when people: (1) think about paying a higher price that ensures better quality. (2) elect a general as president while war clouds threaten. (3) fail to allocate similar resources within equally valu
What is Demand schedule and how it is associated to demand curve?
How prices allocate resources?
‘The country is at present in recession and this has led to worse tax revenue and high expenses. The effect is a huge deficit. The government decides to increase taxes and lower government expenses. Is this an excellent idea?’
Describe when there will be a surplus of the good?
Evaluate the value of fiscal deficit when primary deficit is 53,000 crores and interest on borrowings is Rs 5,000 crores?
Implications of fiscal deficit: (A) High fiscal deficit entails a big amount of borrowings in which the government takes more loans to pay back it. It raises the liability of government. Q : Value of MPC when MPS is zero Determine Determine the value of MPC whenever MPS is zero? Answer: Whenever MPS = 0, MPC = 1 – 0 = 1.
Determine the value of MPC whenever MPS is zero? Answer: Whenever MPS = 0, MPC = 1 – 0 = 1.
Explain the concept of “economies of scale” and “increasing returns”.
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