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is it true to say that inflation can only sustain with the increase in money supply inflation can only be sustained if there is a persistent
how the inflation effect on the import and export of the country when general price level enhances in an economy local currency is devalued
what is the difference between price inflation and wage inflation price inflation is the rate of enhance in the prices of goods and services
what is hyper inflation how it can be reduced hyper inflation means that prices of the consumable goods are very high prices can be
what is deflation deflation in economics refers to reduce in the general price level ie the nominal cost of goods and services as well as wages
what are expansionary and contractionary effects expansionary effect refers to the effect of raising the equilibrium level of national income for
what is meant by minimum wage the minimum wage is the minimum rate a worker can legally be paid usually per hour as opposed to wages that are
define injections and withdrawals the inflows in circular flow of income are known as injections investment government spending and exports
what is return on investment return on investment is the profit earned by investing in some business or some project for instance investment in
differentiate between real and nominal variables in economics the distinction among nominal and real numbers is often made nominal variables --
what is the difference between price value and price level price value is the value of commodity bought by the consumer at a certain price from
what is the difference between gdp and gnp gross domestic product gdp is the value of the total final output formed inside a country during a
what factors shift the aggregate demand curve to right and what factors shift the ad curve to left ad shifts to the right when any component of
what is game theory game theory is a mathematical method of decision-making in which a competitive situation is examined to verify the optimal
differentiate between firm and industry a firm is a business unit produced for the purpose of carrying out some kind of trading activity the term
why does a monopoly have no supply curve a supply curve is a curve that shows the quantity supplied at dissimilar prices as a monopoly sets the
how elasticity is always referred to as a positive value even though it can be negative in economics elasticity is measures of the incremental
what are the determinants of income elasticity of demand there are three determinants of income elasticity of demand these are degree of necessity
what is ceteris paribus ceteris paribus is a latin phrase literally translated as other things the similar and usually rendered in english as all
what is the difference between quantity supplied and supply there is a distinction among supply and quantity supplied supply explains the behavior
what is the difference between a change in demand and a change the quantity demanded there is a distinction among demand and quantity demanded
define law of supply quantity supplied rises as price raises other things constant in other words other things being equivalent when the price of
define law of demand answer quantity demanded increases as price falls other things constant in other words other things remaining the
explain the term economic efficiency answer economic efficiency means full utilization of all available resources in economy ie to produce
what is main difference between nominal money supply and real money supply real money supply is the supply of real money in the economy real money