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 functions of central bank? Answer: (A) Issue of currency: Central bank is the only authority for the issue of currency
Suppose the value of exports of goods of a country is Rs. 1,000 crores and the value of imports of goods is Rs. 1,200 crores, what will be the trade balance (or balance of trade)?
What is the alternative name of value added technique of estimating national income? The alternative name of value added technique of estimating national income is production method.
Explain the term Shut Down Price? Illustrate it.
What happens when AD > AS past to full employment level of employment?
A tax will be backward-shifted totally when the: (i) demand curve is vertical and the supply curve is slopes up. (ii) demand curve slopes down and the supply curve is vertical. (iii) supply curve is perfectly elastic and the demand cu
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.
Define fiscal policy? Answer: Fiscal policy is the revenue and expenditure policy of government with a view to combat the state of inflationary or deflationary gap
Most economists believe such that people increase an activity when they perceive the expected additional benefits as exceeding the expected extra cost, but decrease their level of an activity whenever they believe the benefits from the last few units of the activity a
The Financial Account captures international fund flows due to
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