principles of macroeconomics
Explain the concept of “economies of scale” and “increasing returns”.
State the Law of supply and explain the factors that affecting supply of commodity
What does fiscal deficit in government budget mean? Answer: This means more borrowing on the portion of government.
What are the limitations of using GDP as an index of welfare of a country?A) The N.I. figures provide no indication of the population, skill and resource of the country. Thus the levels of welfare stay low.B) A higher N.I. migh
Definition of surplus: It is a condition in which quantity supplied is more than quantity demanded. To remove the surplus, producers will minimize the price till the market reaches to equilibrium.
A country’s balance of trade is Rs. 75 crores. The value of imports of goods is Rs. 100 crores. What is the value of exports of goods?
In calculating the GDP national income accountants:
Fiscal policy measures used for achieving full-employment level of output and price include increase in the government expenditure and cut in tax rates. A cut in tax rates eliminates only the adverse effect of high tax rates, whereas an increase in government expendit
Substitutes: The two goods for which a rise in the price of one good leads to a rise in the demand for another.
Bank rate: This is the rate at which the central bank loans money to commercial bank.
use two market diagrams to explain how an increase in state subsidies to public colleges might affect tuition and enrollments in both public and private colleges?
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