GDP
In calculating the GDP national income accountants:
Implication of Fiscal deficit A) It raise the supply of money in the economyB) It rises financial burden for future generation.C) It is the cause of inflation.
Define Break Even point? Elucidate with the help of saving function. Answer: Breakeven point is a point where consumption equals to income and saving is equivalent t
Consider a model economy with a production function Y = K0.2(EL)0.8, where K is capital stock, L is labor input, and Y is output. The savings rate (s), which is defined as
Can anybody suggest me the proper explanation for given problem regarding problem of scarcity in economics generally. The problem of scarcity means that the origin for each economic activity is to: (v) facilitate s
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
Substitutes: The two goods for which a rise in the price of one good leads to a rise in the demand for another.
Since the percentage of income paid in taxes generally declines as taxpayer income increases, standard sales taxes and “sin” taxes [for example, excise taxes upon liquor or tobacco] are illustrations of: (1) proportional t
When total revenue to a firm is unaffected by small price modifications, then demand is: (i) Relatively price elastic. (ii) Relatively price inelastic. (iii) Unitarily price elastic. (iv) Vertical. (v) Horizontal. Can someone help
Determine the value of MPC whenever MPS is zero? Answer: Whenever MPS = 0, MPC = 1 – 0 = 1.
Do you think that macroeconomic policy should be designed to achieve a measured unemployment rate of zero? Why or why not should this be the case?
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