Trade types of cycle distinguished by Schumpeter
What are the trade types of cycle distinguished by Schumpeter?
Expert
Schumpeter distinguished three types of trade cycle as given below:
1. Short Kitchin Cycle:
It is the period of this cycle is very short, around four month’s duration.
2. Longer juglar cycle: Such cycle has average 9.5 years duration.
3. Very long Kondratief Wave: This takes more than fifty years to run its course.
A requirement of equal pay for workers along with equal amounts of education, responsibility, and experience is termed as the doctrine of: (1) marginal productivity. (2) non-exploitation. (3) central wage planning. (4) comparable wort
The individual firm in a purely competitive labor market: (1) faces a perfectly elastic supply of labor at the equilibrium wage. (2) faces a perfectly inelastic supply of labor at the equilibrium wage. (3) has a perfectly elastic demand for labor at t
States the Scarcity Definition in economics?
All else identical, a competitive firm will demand more labor when: (w) technological advances lead to automation. (x) the price of the firm’s output rises. (y) more firms enter the industry. (z) competing firms offer their workers more training
Explain the accounting cost concept in brief.
Val Alvarado, an accountant, quit his $80,000 year job and bought an existing laundry through its earlier owner, he was Ricky White. The lease has five years stayed and needs a monthly payment of $4,000. Val's explicit cost amounts to $3,000 per month more than his
what is exceptional demand curve and its explanation?
When the demand for labor influenced by the minimum wage is wage elastic, increasing the minimum wage would: (w) increase total wages received by low wage workers. (x) reduce total wages received by low wage workers. (y) not affect th
What is pricing strategies?
What is social cost of production?
18,76,764
1922452 Asked
3,689
Active Tutors
1428086
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!