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The demand for a resource will increase if the
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
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
Macroeconomics is primarily focused on issues about: (w) economy extensive aggregate variables as like national income. (x) the structure of economic activity quite than its level. (y) resource allocations through households and business firms. (z) po
The value of nominal GNP of an economy was Rs. 2,500 crores in a specific year. The value of GNP of that country throughout the same year, computed at the prices of some base year was Rs.3000 crores. Evaluate the value of GNP deflator of the year in terms of percentag
Hello guys I want your advice. Please suggest your answer for following economics problems. Macroeconomic policy matters focus upon: (w) price determination within specific markets. (x) conduct and structure of mar
Inflation is frequently described as "too much money chasing too few goods." Is this a satisfactory definition?
‘Must a country which is less proficient at generating all goods use import controls to decrease imports from additional countries?’
Does a surplus of AD over AS always entail a condition of inflationary gap? Answer: No. Inflationary gap takes place only if AD > AS equivalent to full employmen
A prosperous person who made higher and higher incomes yearly would possibly benefit most from: (w) proportional tax system. (x) progressive tax system, much like the one in place today. (y) regressive tax system. (z) fixed percentage tax system. Q : Problem on diminishing marginal utility An illustration of how marginal utility diminishes takes place when: (1) Derek finds it tough to laugh politely when he hears a “new” joke for the fourth time now. (2) Amy Sue chooses she would instead have 150 hogs than 151 on her pig far
An illustration of how marginal utility diminishes takes place when: (1) Derek finds it tough to laugh politely when he hears a “new” joke for the fourth time now. (2) Amy Sue chooses she would instead have 150 hogs than 151 on her pig far
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