principles of macroeconomics
Explain the concept of “economies of scale” and “increasing returns”.
Multiplier: The Multiplier is the ratio of change in income by the change in investment. Multiplier (k) = ΔY/ΔI
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.
Depreciation of a currency signifies fall in value of domestic currency in terms of foreign currency. Illustration: When value of rupee in terms of US dollars falls, state from Rs. 45 to Rs. 50 per dollar, it will be a condition of depreciation of Ind
Describe the fiscal measures to accurate the condition of deficient demand and excess demand. Answer: Fiscal measures are the government’s budgetary policy th
What does fiscal deficit in government budget mean? Answer: This means more borrowing on the portion of government.
State the Law of supply and explain the factors that affecting supply of commodity
Explain with examples the reasons for exceptional demand curve
Bank rate: This is the rate at which the central bank loans money to commercial bank.
Meaning: - as mentioned above, the balance of payments is a periodic accounting of international economic transactions. Each country having regular economic transactions with other countries prepares periodically the final accounts of their foreign receipts and paymen
Describe why businessmen mostly wish to open current account in bank?
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