Inflation
Inflation is frequently described as "too much money chasing too few goods." Is this a satisfactory definition?
Expert
Inflation is a persistent rise in price level. Prices are derived by the interaction between demand and supply. Price rises when demand rises without any rise in supply OR supply falls without demand unchanged. When there is more money (demand) than what is available on sale (supply) we have inflation. Too few goods refers to low supply in comparison with high demand that is fuelled by too much money.
Define the "full-employment" or "natural" rate of unemployment and give its approximate percentage rate as economists currently define it.
When in an economy intended investment is more than intended savings, then what is the consequence of it on the national income? Answer: When I > S, the level of
Describe whether the sale of old scooter is comprised in national income?
In the figure shown below, line T0 depicts a tax system which is: (1) Progressive. (2) Regressive. (3) Proportional. (4) Unbiased. (5) Recessive. Q : Physical quality of life index DISCUSS DISCUSS the experience of high GNP countries and low GNP with regard to PQLI.
DISCUSS the experience of high GNP countries and low GNP with regard to PQLI.
Definition of equilibrium price: It is the price which balances quantity demanded and quantity supplied. The equilibrium price is frequently termed as the "market-clearing" price since both buyers and sellers are p
Quantity of a good: The quantity of a good which buyers demand is found out by the price of the good, income, the prices of associated goods, expectations, tastes, and the number of buyers.
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
Describe any two measures by which a Central Bank can attempt to decrease the gap. Answer: Central bank can decrease this gap by adopting two measures illustrated b
The law of equivalent marginal advantage is violated when people: (1) think about paying a higher price that ensures better quality. (2) elect a general as president while war clouds threaten. (3) fail to allocate similar resources within equally valu
18,76,764
1954108 Asked
3,689
Active Tutors
1452240
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!