What is long run supply curve
Please brief the knowledge what is long run supply?
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Long run supply: It is a graph represents the long run supply curve.
People in whole the world confront the difficulty of scarcity at always because: (i) restricted resources and times preclude producing all the goods people need. (ii) greedy capitalist monopolies charge excessively high prices. (iii) international mar
With the help of graph discuss the determinants of transaction demand.
What is the role of price in market economies?
Does a surplus of AD over AS always entail a condition of inflationary gap? Answer: No. Inflationary gap takes place only if AD > AS equivalent to full employmen
Substitutes: The two goods for which a rise in the price of one good leads to a rise in the demand for another.
Explain in short the income approach to evaluate national income. Answer: Under income method to compute the National Income, the steps given below have been taken into account: A) First of all production units tha
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
how many systems of note issue are there??
Let suppose NDPFC is Rs. 1,000 crores, and NFA is Rs. (--) 5crores, then what will be national income (NNPFC)? Answer: NNPFC = NDPFC+NFA = 1000 + (-5) = Rs. 995 crores.
How prices allocate resources?
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