Physical quality of life index
DISCUSS the experience of high GNP countries and low GNP with regard to PQLI.
Predictions which restricting international trade to protect specific industries and “infant” firms would (a) inefficiently decrease aggregate output and employment, (b) raise the market power of the protected firms and their workers, and
Do you think that macroeconomic policy should be designed to achieve a measured unemployment rate of zero? Why or why not should this be the case?
What does fiscal deficit in government budget mean? Answer: This means more borrowing on the portion of government.
Explain the concept of “economies of scale” and “increasing returns”.
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.
how to calculate national income under value added method
As longer time periods are taken and a bigger range of adjustments (or substitutions) become obtainable, then demand curves tend to become: (1) flatter, as supply curves become steeper. (2) Steeper as supply curves become flatter. (3) Flatter, and therefore do supply
What are the strength and weakness of using per capital national income? give explained answer for query
A tax will be backward-shifted totally when the: (i) demand curve is vertical and the supply curve is slopes up. (ii) demand curve slopes down and the supply curve is vertical. (iii) supply curve is perfectly elastic and the demand cu
Elucidate the concept of deflationary gap. Answer: Deflationary gap is the deficit in aggregate demand from the level needed to maintain full employment equilibrium
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