Growth is a significant economic goal. Explain
Growth is a significant economic goal. Explain?
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Growth is an significant economic goal because it means more and more material abundance and ability to meet the economizing problem. Growth decreases the burden of insufficiency.
The arithmetic growth is imposing. Using the “rule of 70,” a growth rate of 2% annually would take 35 years for GDP to double, but a growth rate of 4% annually would only take about 18 years for GDP to double. (The “rule of 70” uses the absolute value of a rate of change, divides it into 70, and the result is the number of years it takes the underlying quantity to double.)
As per to the laissez-faire philosophy of government,: (1) economy works best while all investment decisions are centralized. (2) market system works best along with only minimal government intervention. (3) government must be restricted to stabilizin
A positive responsibility played through speculators within a market economy is to: (1) find out price levels for entrepreneurs. (2) predict the quantity at that long run equilibrium would be attained. (3) inform government organizations of consumer p
Problem 2 Consider Garfield's utility function given as U(x1, x2) = x1x2, wher
Janet has loaned a start-up coffee house $50,000 and predicts to earn interest from her financial investment. In circular flow model this transaction is an illustration of: (1) An exchange of her saving for interest, via a resource market for the economic capital. (2)
The expected losses to workers by shirking are increased while a firm adopts a policy of: (1) dividing productive tasks therefore the division of labor is optimal. (2) paying efficiency wages that exceed market-clearing wages. (3) avoiding legal liability from not wri
What do you mean by inflation
Question: Some developing countries have suffered banking crises in which depositors lost part or all of their deposits (in some countries there is no deposit insurance). This type of crisis decreases depositors' confidence in the banking syst
Describe Quasi-public goods?
Illustrate the term Positive and Normative Economics?
Question: Suppose three identical firms are engaged in Cournot competition in quantities. They all have marginal costs equal to 40. Market demand is given by: Discover Q & A Leading Solution Library Avail More Than 1445114 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1927303 Asked 3,689 Active Tutors 1445114 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
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