Market system
The market system's answer to the fundamental question "How will the system promote progress?" is essentially:
Gross domestic capital formation is always greater than gross fixed capital formation
Describe whether the sale of old scooter is comprised in national income?
Differentiate between APC and MPC. The value of which of them can be greater than another and when? Answer: APC is the average
Between 1961 and 2007, the rising share of the Canadian population in paid employment contributed to rising GDP per person. But suppose that the share of the Canadian population in paid employment had remained constant between 1961 and 2007. What would Canadian GDP pe
The country’s balance of trade is Rs.500 crores. The value of exports of goods is Rs. 650 crores. What is the value of imports of goods?
Substitutes: The two goods for which a rise in the price of one good leads to a rise in the demand for another.
The Income effects will be most strongly positive for: (1) Normal goods. (2) Necessities. (3) Superior or luxury goods. (4) Substitutes and much negative for the complements. Find out the right answer from the above options.
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
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
With the general equilibrium framework in place, the stage is now set for introducing fiscal and monetary changes and analysing their effects on the general equilibrium. We will first introduce a fiscal change in the form of increase in deficit-financed expenditure, a
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