GDP
In calculating the GDP national income accountants:
Describe why businessmen mostly wish to open current account in bank?
10 US dollars are exchanged for 500 Indian rupees. Calculate the exchange rate for Indian currency? Answer: $1 = 500/10 = Rs.50, that is, $1 = Rs. 50
Reallocation of resources: In case, the market economy fails or does not attain the desired social objectives, the government has to interfere via budget and reallocate resources accordingly. Through its budgetary
Economic growth is generally defined as a sustained increase in per capital national output over a long period of time. It implies that for economic growth of a nation, the rate of increase in its total output must be greater than the rate of population growth. It ma
Describe any two measures by which a Central Bank can attempt to decrease the gap. Answer: Central bank can decrease this gap by adopting two measures illustrated b
Why change in stock is considered a portion of final expenditure? Answer: The Unsold stocks left with producers are supposed as purchased by the producers themselve
Whenever the price of a good all along a demand curve is modified since of a change in supply, the substitution effect is the modification in purchases of a good which result from a change merely in: (1) The associative price of that good. (2) Consumer tastes and prio
Analyze at least 3 possible regions for the industry which could lead to transaction costs, explaining each in detail.
I have a problem in economics on Change in real income when price fall. Please help me in the following question. When gas prices drop from $2.65 to $2.45, the biggest change in real income is realized by: (1) Harry Hustler who drives his 1995 Lincoln 200,000 miles/ye
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