Steps to analyze modifications in equilibrium
What are the Steps to analyze modifications in equilibrium?
Expert
Steps to analyze modifications in equilibrium:
1. Choose whether the event shifts the supply or demand curve or maybe both.2. Choose in which direction the curve shifts.3. Utilize the demand-supply diagram to view how the shift modifies the equilibrium price and quantity.
Does full employment take place if AD = AS or S = I?
Substitutes: The two goods for which a rise in the price of one good leads to a rise in the demand for another.
How does an internally held public debt differ from an externally held public debt?
Describe any two measures by which a Central Bank can attempt to decrease the gap. Answer: Central bank can decrease this gap by adopting two measures illustrated b
Define the term Supply curve.
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What do you mean by the term Equilibrium? Also state its proper definition.
Why is tax considered as revenue receipt? Answer: Since tax neither makes a liability for government nor decreases assets of the government.
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