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comparative if person can make 15 wristbands and hour and 3 potholders what is the comparative advantage if same person works 20 hours a week graph
questionq8 in 1961 germany faced the dilemma of an external surplus and a booming economy as a result speculative capital flowed into germany and the
incentivesincentives designed to increase effort reward enterprise and encourage saving and investment includean emphasis on the effect of a
cost reductionpositive measures to effect a lowering of costs include reducing national insurance contributions an ad valorem tax on
what is supply-side economics market freedommarkets must be allowed to work more freely and steps taken to improve this efficiency by freeing them
reaganomicssupply-side economics or new classical economics has gained distinct prominence in the early 1980s with the election in the usa of a
limitations of the theory of rational expectationscritics of this theory note that if policy makers have more information about the economy or their
rational expectations schoolexpectations on the future values of economic variables play an important role in macroeconomic analysis and economic
another area where monetarists differ from keynesians is money supply and interest rates in the keynesian analysis with less than full employment
monetary policy vs fiscal policyaccording to monetarists money is very important in determining the level of aggregate demand and that monetary
monetarismthis school argues that disturbances within the monetary sector are the principal causes of instability in the economy according to
financial developmenta well developed financial system is very essential for the smooth functioning of any economy one set of important statistical
buying government securities when a commercial bank buys government bonds the effect is substantially the same as that of lending -
granting a loan when commercial banks lend they create money this can be explained by extending the hypothetical
functions of a commercial bank1 credit creationcreation of credit is a major function of a commercial bank when a bank creates credit or advances
commercial banks balance sheetthe accompaning table gives the balance sheet of a commercial bank in a simplified format the balance sheet contains
it is sometimes asked whether credit cards are money since many purchases are made using these credit cards are a means of obtaining credit and using
money is anything which is acceptable in settlement of a debt but paradoxically the main asset used to settle debts in modern economies is other
as people went from barter societies to more advanced economies money had to be invented several things successively served as money in the course of
as is the case with the supply and demand function for a single business firm determining the equilibrium price and output for its product the
factors responsible for changes in aggregate supplywe know that changes in input costs such as wages oil and other input prices will cause changes in
factors responsible for changes in aggregate demandthe aggregate demand curve shows an inverse relationship between the quantity of goods and
in the short run the discrepancy between actual and expected price level causes changes in output and employment but in the long run if all other
aggregate supply in the short runproduction takes place in business sector on the basis of an expected price for its output however costs are
aggregate supply aswe now shift our attention to the supply side of the macroeconomy aggregate supply explains the production and pricing side of the