Economics
Hello. I need help with my assignment, I was sick and lost alot of time.My submission deadline is tomorrow i need your help i have attached the questions Thanks in advance
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. (
If the MPC is .70 and investment increases by $3 billion, the equilibrium GDP will:
Reallocation of resources: In case, the market economy fails or does not attain the desired social objectives, the government has to interfere via budget and reallocate resources accordingly. Through its budgetary
Describe any two measures by which a Central Bank can attempt to decrease the gap. Answer: Central bank can decrease this gap by adopting two measures illustrated b
Explain the statement "Hypothes is the basic short run and long run behaviors of the airline industry in a market economy".
In calculating the GDP national income accountants:
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
Why the value of MPC is not greater than 1? Answer: This is because change in consumption can never be more than change in income.
What does fiscal deficit in government budget mean? Answer: This means more borrowing on the portion of government.
What is meant by the term business cycle as described by economists?
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