Econ question
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A tax is shifted forward when the tax burden causes the: (w) consumers to pay higher prices. (x) lower purchasing power for the party bearing the legal incidence. (y) workers to experience lower take home wages. (z) decreased dividends to corporate st
how to calculate national income under value added method
‘What occurs in the money market when there is a raise in income?’
The consumer reaches equilibrium for any two goods X and Y whenever the: (1) MUx/Px = MUy/Py. (2) MUx/MUy = Py/Px. (3) Utility from X equivalents the utility produced by Y. (4) Point of diminishing returns is arrived at. Can someon
What are the causes of the fiscal deficits experienced by many developed nations in the past three years and what are the main effects of the resulting government borrowing? For example – Greece/Ireland/Portugal/Spain situation and the large def
Definition of shortage: It is a condition in which quantity demanded is more than the quantity supplied. The sellers will respond to the shortage by increasing the price of the good till the market reaches the equi
Meaning: - as mentioned above, the balance of payments is a periodic accounting of international economic transactions. Each country having regular economic transactions with other countries prepares periodically the final accounts of their foreign receipts and paymen
Distinguish between full-employment equilibrium and Under-employment equilibrium. Whenever equality among AD and AS is at full employment level it is termed as full employment equilibrium. Although whenever equali
Whenever people can’t purchase all of a good they are willing and capable to pay for at present market price, there is surely a market: (1) Price ceiling. (2) Price floor. (3) Shortage. (4) Anomaly. (5) Surplus. Please
Explain the term Shut Down Price? Illustrate it.
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