Shortage of the good
Describe when there will be a shortage of the good?
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When the real price is lower than the equilibrium price, then there will be a shortage of the good.
The Financial Account captures international fund flows due to
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
Possibilities Food (millions of tons per year) Tractors (millions per year) A 0 30 B 4 28 C 8 24 D 12 20 E 16 14 F 20 8 G 24 0 a. Is it possible for this nation to produce thirty million tons of food per year? Why or why not. b. Is it possible for this nation to produce thirty million
Fiscal deficit: Fiscal deficit is stated as the surplus of total expenditure over total receipts, apart from borrowings. Fiscal deficit = Total expenditure (Rev. Exp. + Cap. Exp.) – Total Receipts
I have a problem in economics on Expanding consumption of a good. Please help me in the following question. Your consumption of a good tends to expand if it’s: (i) Relative marginal utility surpasses its relative price. (ii) Total utility is les
Assume that you consume bananas and apples, and the marginal utility of the last apple consumed is 6 times the marginal utility of last banana consumed. Though, the price of apples is only 3 times the price of bananas. This disequilibrium among the two goods can be re
What is the basic difference between Market Supply and Individual Supply?
‘Must a country which is less proficient at generating all goods use import controls to decrease imports from additional countries?’
Analyze at least 3 possible regions for the industry which could lead to transaction costs, explaining each in detail.
In market economies, what are the signals which guide economic decisions?
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