Problem on superior or luxury goods
The Income effects will be most strongly positive for: (1) Normal goods. (2) Necessities. (3) Superior or luxury goods. (4) Substitutes and much negative for the complements. Find out the right answer from the above options.
The Income effects will be most strongly positive for: (1) Normal goods. (2) Necessities. (3) Superior or luxury goods. (4) Substitutes and much negative for the complements.
Find out the right answer from the above options.
Quantity of a good: The quantity of a good which buyers demand is found out by the price of the good, income, the prices of associated goods, expectations, tastes, and the number of buyers.
Suppose the value of exports of goods of a country is Rs. 1,000 crores and the value of imports of goods is Rs. 1,200 crores, what will be the trade balance (or balance of trade)?
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
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What is the alternative name of value added technique of estimating national income? The alternative name of value added technique of estimating national income is production method.
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When in an economy intended investment is more than intended savings, then what is the consequence of it on the national income? Answer: When I > S, the level of
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