What is Equilibrium quantity
Equilibrium quantity: It is the quantity supplied and the quantity demanded at equilibrium price.
Law of supply: It is the claim which, other things equivalent, the quantity supplied of a good increases whenever the price of the good increases.
Macro Economics: Macro economics studies the economy as an entire.
What do you understand by the term Price (P) at Market in Economy?
Define the "full-employment" or "natural" rate of unemployment and give its approximate percentage rate as economists currently define it.
Assume that you receive $18 worth of ‘jollies’ (that is, utility, satisfaction or pleasure) from the very first hole of golf played on a particular day, and that your extra jollies from succeeding the holes drops $1 for each and every hole played. You shou
Adam Smith disputed that a nation’s wealth is, not the gold it possesses, but instead its: (1) Total population. (2) Capability to offer goods for its people. (3) Domestic financial capital. (4) Foreign investments. (5) Military might.
Write a brief note on plan and non-plan expenditure of the government with illustration. Answer: Plan Expenditure
Let suppose NDPFC is Rs. 1,000 crores, and NFA is Rs. (--) 5crores, then what will be national income (NNPFC)? Answer: NNPFC = NDPFC+NFA = 1000 + (-5) = Rs. 995 crores.
What are the main sources of supply of foreign currencies into domestic economy? Answer: A) Foreigners purchasing home country’s goods and services via exports. B) Foreign investment in home country via
What is another name of macroeconomics? Answer: Income theory
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