Inflation
Inflation is frequently described as "too much money chasing too few goods." Is this a satisfactory definition?
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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.
Illustrate a point on consumption curve at which APC = 1. Answer: APC = C/Y = 1 is possible when C = Y, that is, Consumption is
how to calculate national income under value added method
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Fiscal policy measures used for achieving full-employment level of output and price include increase in the government expenditure and cut in tax rates. A cut in tax rates eliminates only the adverse effect of high tax rates, whereas an increase in government expendit
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
If disposable income increases from Rs. 1,000 to Rs. 1,100, savings increase by Rs. 30. Determine the marginal propensity to save and marginal propensity to consume?
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
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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.
In the figure shown below, line T0 depicts a tax system which is: (1) Progressive. (2) Regressive. (3) Proportional. (4) Unbiased. (5) Recessive. Discover Q & A Leading Solution Library Avail More Than 1420564 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1951861 Asked 3,689 Active Tutors 1420564 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
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