principles of macroeconomics
Explain the concept of “economies of scale” and “increasing returns”.
DISCUSS the experience of high GNP countries and low GNP with regard to PQLI.
Elucidate the concept of deflationary gap. Answer: Deflationary gap is the deficit in aggregate demand from the level needed to maintain full employment equilibrium
Administrative revenue: Administrative revenueis the revenue which occurs on account of the administrative function of government. It comprise: (a) Fees (college/school) (b) License fees paid to obtain permission to carry out a service (c) Fines and p
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The founder of utilitarianism be: (1) Adam Smith. (2) John Stuart Mill. (3) Jeremy Bentham. (4) Feodor Dostoyevsky. (5) Thorstein Veblen. (6) Alfred Marshall. Can someone help me in getting through this problem.
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
Consider a model economy with a production function Y = K0.2(EL)0.8, where K is capital stock, L is labor input, and Y is output. The savings rate (s), which is defined as
What points out revenue deficit? Answer: Revenue deficits are stated as the surplus of revenue receipts. Revenue Deficit = Revenue Expenditure - Revenue Recei
Which of the following lists includes only capital resources (and ther Which of the following lists includes only capital resources (and therefore no labor or land resources)?
Why change in stock is considered a portion of final expenditure? Answer: The Unsold stocks left with producers are supposed as purchased by the producers themselve
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