Who explained micro and macro economics
Who explained micro and macro economics?
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Paul Samuelson ‘mathematized’ both micro and macro economics.
In simple circular flow model, the only entities which finally consume goods, own resources, pay taxes or bear the loads of inflation, experience joy, or suffer pain, are as: (i) corporations. (ii) Households. (iii) Government agencies. (iv) Business
In a completely employed economy, the higher the yield of capital goods, and the bigger its: (1) Present living standards. (2) Present output of consumer goods. (3) Growth of capacity for the future production. (4) Rates of inflation and unemployment.
Demand for foreign exchange is prepared to: (A) Purchase services and goods (B) Send gifts and funding(C) Speculate the value of foreign currencies, (D) Invest and procure financial assets
Differentiate among current account and capital account of balance of payment account. State any two transactions of capital account. Answer: Q : System characterization of US economy The U.S. economy is an instance of a system characterized by: (1) Mixture of different aspects of various economic systems. (2) Strictly decentralized the decision making process. (3) Centralized ownership of resources. (4) Political decisions regarding all allocative
The U.S. economy is an instance of a system characterized by: (1) Mixture of different aspects of various economic systems. (2) Strictly decentralized the decision making process. (3) Centralized ownership of resources. (4) Political decisions regarding all allocative
I have a problem with the satement “Things will look excellent for the US if we could just get to where we are consistently executing a positive Balance of Payments.” Can someone in short comment on this statement?
Describe which of the following is a visible and which is invisible item in Balance of payments. (a) Export of jute product (b) Software services exports. Answer: Q : Setting tone for subsequent generations Who was responsible for setting the tone for following generations of economists?
Who was responsible for setting the tone for following generations of economists?
The practice considers the Treasury’s elucidation of the consequence on macroeconomic adjustment of joining the euro.
Explain all the approaches of Paul Samuelson.
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