GDP
In calculating the GDP national income accountants:
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
Illustrate a point on consumption curve at which APC = 1. Answer: APC = C/Y = 1 is possible when C = Y, that is, Consumption is
Macro Economics: Macro economics studies the economy as an entire.
Equilibrium quantity: It is the quantity supplied and the quantity demanded at equilibrium price.
When equilibrium moves from point a to point b in the figure shown below, the only market experiencing a rise in demand is illustrated in: (1) Panel A. (2) Panel B. (3) Panel C. (4) Panel D. Q : Value added technique for national What is the alternative name of value added technique of estimating national income? The alternative name of value added technique of estimating national income is production method.
What is the alternative name of value added technique of estimating national income? The alternative name of value added technique of estimating national income is production method.
Most economists believe such that people increase an activity when they perceive the expected additional benefits as exceeding the expected extra cost, but decrease their level of an activity whenever they believe the benefits from the last few units of the activity a
When Sam Sleaze sells Terry Tone-deaf a low-quality stereo by promotion as the "top of the line", there is a trouble of: (1) Moral hazard. (2) Irrational ignorance. (3) Adverse choice. (4) Paradox of value. Can someone help me in g
The economic effects of inflation are all pervasive. It affects all those who depend on the market for their livelihood. The effects of inflation may be favorable or unfavorable, and low or high depending on the rate of inflation. For example a galloping the hyper inf
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. (
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