Surplus of the good
Describe when there will be a surplus of the good?
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When the real market price is more than the equilibrium price, then there will be a surplus of the good.
Describe when there will be a shortage of the good?
Describe functions of central bank? Answer: (A) Issue of currency: Central bank is the only authority for the issue of currency
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)?
If $9 is required to buy £2, what is the exchange rate for USA dollar? Answer: £1 = 9/2 = $4.5, i.e., £1 = $4.5.
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.
Macroeconomics is mainly concerned along with all things as the: (i) decisions individuals and firms make while prices change. (ii) resource usage and technology bases of firms. (iii) levels of national employment and income. (iv) movements within the
If the MPC is .70 and investment increases by $3 billion, the equilibrium GDP will:
The law of equivalent marginal advantage is violated when people: (1) think about paying a higher price that ensures better quality. (2) elect a general as president while war clouds threaten. (3) fail to allocate similar resources within equally valu
When a tax on goat cheese is completely paid by consumers via higher prices, then the tax has been: (i) alleviated. (ii) Forward shifted. (iii) Backward shifted. (iv) Actualized. (v) Randomized. Can someone help me in getting throu
I have a problem in economics on Paradox of Value problem. Please help me in the following question. The Diamond Water Paradox occurs from the difficulties in differentiating between: (i) Consumer surplus and the total utility. (ii) Total utility and
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