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.
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.
I have a problem in economics on Change in real income when price fall. Please help me in the following question. When gas prices drop from $2.65 to $2.45, the biggest change in real income is realized by: (1) Harry Hustler who drives his 1995 Lincoln 200,000 miles/ye
The consumer maximizes the utility whenever spending patterns causes: (i) Total outlays to increase each time prices are altered. (ii) Marginal utilities of each and every good consumed to be equivalent. (iii) Marginal utilities from the last cent spent on each and ev
10 US dollars are exchanged for 500 Indian rupees. Calculate the exchange rate for Indian currency? Answer: $1 = 500/10 = Rs.50, that is, $1 = Rs. 50
Fiscal deficit: Fiscal deficit is stated as the surplus of total expenditure over total receipts, apart from borrowings. Fiscal deficit = Total expenditure (Rev. Exp. + Cap. Exp.) – Total Receipts
(a) Do you think that macroeconomic policy should be designed to achieve a measured unemployment rate of zero?
Can someone help me in finding out the right answer from the given options. The consumer maximizes utility whenever the spending patterns cause: (1) Marginal utility of each and every good to be at its maximum value. (2) Marginal utilities of each and every goods cons
Write a brief note on plan and non-plan expenditure of the government with illustration. Answer: Plan Expenditure
Which of the given is a bank? a) Post office saving banks (b) LIC (c) UTI (d) IDBI.
What are the conditions through which the supply curve will shift?
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