GDP gap
"The economic cost of unemployment is measured by the GDP gap." Explain this statement. ?
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The GDP gap refers to the gap between current GDP and the GDP that corresponds to full employment level. The latter is also called the ‘potential GDP’. When there is unemployment the economy is unable to produce at potential level and the shortfall is the cost that the economy pays in economic terms. This is the cost in economic terms as it is the ’economy’s’ loss. There are other costs of unemployment, but they are personal and restricted to the unemployed person and his family.
When a tax on goat cheese is completely paid by consumers via higher prices, then the tax has been: (i) alleviated. (ii) Forward shifted. (iii) Backward shifted. (iv) Actualized. (v) Randomized. Can someone help me in getting throu
Macroeconomic theory would be least related in analyzing the results of: (w) optional ways of funding deficits in international trade. (x) U.S. federal budget deficits. (y) consumer items purchased through middle-income families. (z) deficit spending through the United Nations.
Describe functions of central bank? Answer: (A) Issue of currency: Central bank is the only authority for the issue of currency
The fact that most of the necessities for life like water are priced much lower than the frivolities like diamonds is addressed by the: (1) Utilitarian enigma. (2) Law of diminishing marginal utility. (3) Rational ignorance of hypothesis. (4) Paradox of the value. (5)
When equilibrium moves from point a to point b in the figure shown below, the only market experiencing a rise in demand is illustrated in: (1) Panel A. (2) Panel B. (3) Panel C. (4) Panel D. Q : Principles of macroeconomics What are What are the “powers of the Federal Reserve
What are the “powers of the Federal Reserve
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Open-Economy Macroeconomics Suppose the structure of an economy with a flexible exchange rates is represented by: C = 200 + 0.85*(Y - T) &n
Illustrate whether output generated for self consumption is comprised or not comprised in the value of output? Answer: The output generated for self consumption is
When heroin were legalized, in that case the: (w) market price of heroin would drop considerably. (x) demand would raise although supply would decrease. (y) demand would decrease but supply would increase. (z) price of cocaine would raise. Discover Q & A Leading Solution Library Avail More Than 1431764 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1954443 Asked 3,689 Active Tutors 1431764 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
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