What is Equilibrium
What do you mean by the term Equilibrium? Also state its proper definition.
Expert
Equilibrium:
A) It is the point where supply and demand curves intersect is termed as the market’s equilibrium.
B) Definition of equilibrium: It is a condition in which the price has reached the level where quantity supplied equivalents quantity demanded.
Describe when there will be a shortage of the good?
Equilibrium quantity: It is the quantity supplied and the quantity demanded at equilibrium price.
IN which situation, there is a deficit in the balance of trade.
Does full employment take place if AD = AS or S = I?
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?
Whenever longer periods are considered and hence bigger ranges of adjustments (that is, substitutions) become probable, demand curves tend to become: (i) Flatter, and therefore do supply curves. (ii) Flatter, as supply curves become steeper. (iii) Ste
Assume that the launch of Microsoft Xbox 360 moved the demand curve for Sony PlayStation 2 games from D0 to D1 throughout similar period if new game designers enter into this market and hence supplies of PlayStation 2 games shifted S0 to S1. The market equilibrium: (1
The basic determinant of the transactions demand for money is the
Do you think that macroeconomic policy should be designed to achieve a measured unemployment rate of zero? Why or why not should this be the case?
Describe when there will be a surplus of the good?
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