Significant causes giving birth to business cycle
What are the significant causes of business cycle to give birth?
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Significant causes giving birth to business cycle may be summarized as given below:
• Seasonal fluctuations
• Under consumption or excessive saving
• Dealings of entrepreneurs
• Monetary disequilibrium
• Change in the volume of investment or decrease in the marginal efficiency of capital
• Lack of adjustment between demand and supply
• Innovation
• Expansion of loans and contraction of loans by banks.
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Increasing the wage rate increases total wages received through workers when the demand for labor is: (w) relatively elastic. (x) relatively inelastic. (y) unitarily elastic. (z) perfectly elastic.
Who is the father of economics and what is wealth definition of economics?
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