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.
Describe Okun's law? Give an illustration of how it works.
Tariffs: -are also called import quotas. -may be imposed either to raise revenue (revenue tariffs) or to shield domestic producers from foreign competition (protective tariffs). -are per unit subsidies designed to promote exports. -are excise taxes on goods exported abroad.
The usual household maximizes the utility by spending all its money to purchase and consume a combination of goods which yields: (1) Fundamental physiological requirements and customary wants. (2) Maximum status and the social prestige. (3) Complete satisfaction of al
Question: What can we learn from the Japanese experience? Is the US headed for a 'lost decade? Answer: There was a similari
According to law of diminishing marginal utility, the longer that Lee and Chris kiss: (i) the less invested each will be in ongoing this relationship. (ii) The nearer they are to reaching their joined production possibilities frontier. (iii) The more
Time Bound: It is essential for bank to lay goals and also have the deadline for the completion of each goal. To be a market leader bank needs to work hard. They need to dedicate more time and resources to attain required success. A time associated wi
Illustrate a point on consumption curve at which APC = 1. Answer: APC = C/Y = 1 is possible when C = Y, that is, Consumption is
Meaning of Cash Reserve Ratio (CRR): It is the percentage of net or total deposits of commercial bank that are maintained by RBI.
What are the strength and weakness of using per capital national income? give explained answer for query
People in whole the world confront the difficulty of scarcity at always because: (i) restricted resources and times preclude producing all the goods people need. (ii) greedy capitalist monopolies charge excessively high prices. (iii) international mar
18,76,764
1948958 Asked
3,689
Active Tutors
1435469
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!