GDP
In calculating the GDP national income accountants:
The most probable of the following to be a poorer good for most American families who purchase some of each of such products throughout a given year would be: (i) Plastic surgery. (ii) College textbooks. (iii) Films on DVD. (iv) Cup-a-Noodles soup. (v) Downloads for t
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.
In poor countries people spend a big percentage of their income so that APC and MPC are high. Yet, the value of multiplier is low. Explain why?
Explain with examples the reasons for exceptional demand curve
WHAT IS THE CHANGE IN EQUILIBRIUM gdp CAUSED BY THE ADDITION OF NET EXPORTS?
The consumer reaches equilibrium for any two goods X and Y whenever the: (1) MUx/Px = MUy/Py. (2) MUx/MUy = Py/Px. (3) Utility from X equivalents the utility produced by Y. (4) Point of diminishing returns is arrived at. Can someon
What relationship does the MPC bear to the size of the multiplier
Describe cost-push inflation and its major source.
Administrative revenue: Administrative revenueis the revenue which occurs on account of the administrative function of government. It comprise: (a) Fees (college/school) (b) License fees paid to obtain permission to carry out a service (c) Fines and p
Briefly explain the four supply factors in economic growth?
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