Illustrate how Macroeconomics examines the economy
Illustrate how Macroeconomics examines the economy as a whole?
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1. It includes measures of total output, total employment, total income, aggregate expenditures, and the general price level.
2. It is a general overview examining the forest, not the trees.
What does financial leverage specify? And also states its limitations?
Explain the law of supply. Why does the supply curve slope upward?
How the government can increase the overall effectiveness of the market system?
Transaction costs are decreased and economic efficiency is enhanced by: (1) long-term wage and price controls. (2) monopolies which cooperate with central planners. (3) blacklists and yellow dog contracts. (4) bureaucratic tendencies
After the Spanish found the new world, they promptly began to plunder this. They imported huge amount of gold and silver to Spain. It inflow of bullion caused a rapid increase in inflation, that would have grave consequences for Spain. It is quick inflation made this
Distinguish clearly between a plant, a firm, and an industry?
Not like speculation, there arbitrage is: (w) an activity which is generally more lucrative when conditions are favorable. (x) a profitable and relatively riskless activity. (y) the process of representing a domestic company within fo
What will be produced in all economic systems?
Micro economics and macro economics:Economic theory can be widely divided into micro and macroeconomics. The word micro means small and macro means big.In microeconomics, we deal
If the price of a good is given, how does a consumer choose/decide as to how much of that good to purchase?
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