national income
Gross domestic capital formation is always greater than gross fixed capital formation
What are the causes of the fiscal deficits experienced by many developed nations in the past three years and what are the main effects of the resulting government borrowing? For example – Greece/Ireland/Portugal/Spain situation and the large def
Explain the concept of “economies of scale” and “increasing returns”.
Please brief the knowledge what is long run supply?
Illustrate which budget expenses does not result in the creation of assets or reduction of liability. Give illustrations too.
Tariffs: -are also called import quotas. -may be imposed either to raise revenue (revenue tariffs) or to shield domestic producers from foreign competition (protective tariffs). -are per unit subsidies designed to promote exports. -are excise taxes on goods exported abroad.
Use economic theory to explain the inflation movements and factors influencing it. Use relevant models to explain the impact of changes in fiscal and monetary policies in curtailing inflation.
If the price of K declines, the demand curve for the complementary project J will:
If the liability to give a tax is on one person and the burden of tax fall on some other person, state the kind of tax? Answer: These are indirect taxes like sales
Describe functions of central bank? Answer: (A) Issue of currency: Central bank is the only authority for the issue of currency
Explain the statement "Hypothes is the basic short run and long run behaviors of the airline industry in a market economy".
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