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.
As longer time periods are taken and a bigger range of adjustments (or substitutions) become obtainable, then demand curves tend to become: (1) flatter, as supply curves become steeper. (2) Steeper as supply curves become flatter. (3) Flatter, and therefore do supply
Whenever the price of a good all along a demand curve is modified since of a change in supply, the substitution effect is the modification in purchases of a good which result from a change merely in: (1) The associative price of that good. (2) Consumer tastes and prio
What relationship does the MPC bear to the size of the multiplier? The MPS? What will the multiplier be when the MPS is 0, .4, .6, and 1
Question: What can we learn from the Japanese experience? Is the US headed for a 'lost decade? Answer: There was a similari
The hypothetical information in the following table shows what the economic situation will be in 2015 if the Fed does not use monetary policy: Year Potential GDP Real GDP Price Level 2014 $15.2 trillion $15.2 trillion 110.0 2015 $15.6 trillion $15.8 trillion
Write a brief note on plan and non-plan expenditure of the government with illustration. Answer: Plan Expenditure
1. Examples of command economies are: A. The United States and Japan. B. Sweden and Norway. C. Mexico and Brazil. D. Cuba and North Korea.
Describe functions of central bank? Answer: (A) Issue of currency: Central bank is the only authority for the issue of currency
Question: Some commentators have argued that the failure of the "Supercommittee" is good thing for the economy? Do you argree? Answer: Q : What are the strength and weakness What What are the strength and weakness of using per capital national income? give explained answer for query
What are the strength and weakness of using per capital national income? give explained answer for query
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