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"Suppose a growing world with positive real income andeconomic growth. There are some lower income countries producinggoods for basic necessities of life. If income of the poor peoplebelonging to lower income countries increases, they move towardsthe luxurious goods like cars and air conditioners etc. Since,income elasticity of luxurious goods is positive i.e. as incomeincreases; demand also increases. So, with the increase in income,demand of luxurious goods from abroad will increase because suchtypes of goods are not produced domestically in lower incomecountries."
Keeping in view the above scenario, what will be the effect of high demand of luxuries goods from abroad on the balance of paymentof lower income countries?
Elucidate what output level does average variable cost reach its minimum value. What is the value (in dollars) of the average variable cost at its minimum point.
What would happen to each of the following economic varibles if the government increased the money supply by 20% per year: M1, interest rates, inflation and wages What impact does increasing or decreasing the printing of money have on the economy ..
Which would NOT be advocated by modern conservatism Free markets , Small governments ,Laissez-faire economics , Welfare programs , Reliance on tradition.
You all hear on TV every day or so that the United States customers has been holding up and kept our economy going.
Explain How did the resolution affect the short and long run costs of the firm. What are the lessons to be learned that can be applied to your position at Acme Motors in Nuevo Laredo.
Differentiate at least two 2-year forecasts from separate sources for real GDP and Producer Price Index
Identify and define three components of a country's balance of payments. Describe the historical process of trade barrier reduction.
Think of a business company you recently visited. What motivated producers of all individual iteams in the store to make them and offer them for sale?
Soft Selling occurs when a buyer is skeptical of the quality or usefulness of a product or service. For example suppose you're trying to sell a company a new accounting system that will reduce costs by 10%. Instead of asking for a price you offer ..
Elucidate price every ride must the public transportation authority charge to eliminate the deficit if it cannot reduce costs
At the management luncheon, two managers were overheard arguing about the following statement: "A manager should never hire another worker if the new person causes diminishing returns". Is this statement correct? If so, why? If not, explain why no..
Ms. Fogg is planning a trip where she plans to spend $10,000-What is the maximum amount that Ms. Fogg is willing to pay to insure the $1,000?
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