Who is a normal resident
Normal resident: The persons or an institution who lives in a country and whose centre of interest lies in that country is termed as a normal resident of that country.
Describe Spillovers and externalities?
Just need help to see if I am in the right direction if there any think wrong need help with it.
In output markets, the simple circular flow model, households replace their _________ for _________. Can someone help me in determining the right answer from the given options. (1) Resources | income. (2) Labor | g
Explain by giving example of an absolute advantage in production of two products?
Computing the cost of college education like the cost of books, tuition and materials, room as well as board, and spending money: (i) overstates the economic cost of a college education. (ii) accurately measures the economic cost of a college educatio
Illustrate the complex cases when both supply and demand shift?
Briefly explain how the competitive market economy will make the needed adjustments to reestablish an efficient allocation of society’s scarce resources?
Newspaper item: “Due to lower grain prices, consumers can expect retail prices of choice beef to begin dropping slightly this spring with pork becoming cheaper after midsummer,” the Agriculture Department predicted. “This reflects increasing supply,” the department said. Does the statement use th
Describe two kinds of efficiency Full production imply?
Discussion of a pin factory by Adam Smith focused upon the increased productivity related along with: (w) free international trade as per absolute advantage. (x) specialization and the division of labor. (y) free international trade as per comparative advantage. (z) certainty abo
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