Economic
Economic systems differ according to which two main characteristics?
Explain the concept of “economies of scale” and “increasing returns”.
Define the "full-employment" or "natural" rate of unemployment and give its approximate percentage rate as economists currently define it.
‘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?’
A tax will be backward-shifted totally when the: (i) demand curve is vertical and the supply curve is slopes up. (ii) demand curve slopes down and the supply curve is vertical. (iii) supply curve is perfectly elastic and the demand cu
Why the borrowings by Government are taken as capital receipts?
Illustrations of macroeconomic aggregates would NOT consist of the: (1) tax responsibilities of a family. (2) unemployment rate. (3) level of national income. (4) supply of money. (5) rate of inflation. Can someone
Describe functions of central bank? Answer: (A) Issue of currency: Central bank is the only authority for the issue of currency
The basic determinant of the transactions demand for money is the
Determine the value of total receipts of government budget when budget deficit is Rs 2,000 crores and the net expenses is Rs 3,000 crores.
Individuals maximize the satisfaction whenever the marginal utilities of all goods are: (i) Precisely proportional to the consumer’s income. (ii) Maximized. (iii) Precisely proportional to the opportunity costs of consuming them. (iv) Equivalent
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