What is substitutes
Substitutes: The two goods for which a rise in the price of one good leads to a rise in the demand for another.
Economic growth is measured by the rate of increase in national output, GDP. The output depends on inputs -labour, capital technology etc. the theories of economic growth bring out how and to what extent each input or factor contributes to the g
How can governments seek to control their national economies through fiscal and monetary policies?
What occurs to aggregate demand if the government budget is in deficit? Answer: The deficit budget raises the aggregate demand since the deficit budget signifies th
What must be added to NNPMP to obtain net national disposable income? Answer: The Net current transfers from abroad must be added to NNPMP to get national disposabl
When the U.S. furniture market is primarily in equilibrium at point e on S0D0 and then Chinese manufacturers start exporting more furniture to the United States, then this market would shift towards a new equilibrium at: (1) point a. (2) point b. (3) point c. (4) poin
What are the components of aggregate demand (AD)? Answer: The components of AD are as follows:AD = C + I + G + (X - M) By Simplifying AD = C + I, Here C refers to Household consumption demand and I refer
What is "demand-pull" inflation?
DISCUSS the experience of high GNP countries and low GNP with regard to PQLI.
Please brief the knowledge what is long run supply?
Describe functions of central bank? Answer: (A) Issue of currency: Central bank is the only authority for the issue of currency
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