GDP
In calculating the GDP national income accountants:
Whenever longer periods are considered and hence bigger ranges of adjustments (that is, substitutions) become probable, demand curves tend to become: (i) Flatter, and therefore do supply curves. (ii) Flatter, as supply curves become steeper. (iii) Ste
For the firm, the major goal of profit sharing plans is to:
Elucidate the concept of deflationary gap. Answer: Deflationary gap is the deficit in aggregate demand from the level needed to maintain full employment equilibrium
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
Describe cost-push inflation and its major source.
"The economic cost of unemployment is measured by the GDP gap." Explain this statement. ?
how to calculate national income under value added method
How prices allocate resources?
Explain the statement "Hypothes is the basic short run and long run behaviors of the airline industry in a market economy".
The consumer maximizes the utility whenever spending patterns causes: (i) Total outlays to increase each time prices are altered. (ii) Marginal utilities of each and every good consumed to be equivalent. (iii) Marginal utilities from the last cent spent on each and ev
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