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.
To begin with, let us recall our three-sector product-market equilibrium model given as C + I + G = C + S + TTo this three-sector model, we now add the foreign trade-the exports (X) and imports
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
Voluntary unemployment: It refers to a condition when person are not willing to do work at customary market wage rate, though they are receiving a work.
Speculate regarding the behavior which could result from Internet technology in airline transactions and propose 2 or more strategies to deal with them.
A flat rate income tax for all levels of income along with no exceptions would be taken as a: (i) proportional tax. (ii) progressive tax. (iii) regressive tax. (iv) common tax. Can anybody suggest me the proper exp
DISCUSS the experience of high GNP countries and low GNP with regard to PQLI.
Use economic theory to explain the inflation movements and factors influencing it. Use relevant models to explain the impact of changes in fiscal and monetary policies in curtailing inflation.
Describe Okun's law? Give an illustration of how it works.
Bank rate: This is the rate at which the central bank loans money to commercial bank.
Whenever longer periods are considered and hence bigger ranges of adjustments (that is, substitutions) become probable, demand curves tend to become: (i) Flatter, and therefore do supply curves. (ii) Flatter, as supply curves become steeper. (iii) Ste
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