Actual income and full employment income, Managerial Economics

Assignment Help:

Actual income and Full employment income

Full employment income (Also called Potential National) is the national income that could be produced when the country's factors of production are fully employed.  This concept is given the symbol YF.  Actual national income, symbolized by Y, can be below or equal to YF and, by working resources overtime and otherwise harder than normal, it can occasionally rise above YF.


Related Discussions:- Actual income and full employment income

Econ600, 250 word essay: A New Hampshire resort offers year-round activitie...

250 word essay: A New Hampshire resort offers year-round activities: in winter, skiing and other cold-weather activities; in the summer, golf, tennis, and hiking. The resort’s oper

Define national income, National Income National Income is a measure o...

National Income National Income is a measure of the money value of goods and services becoming available to a nation from economic activities. It can also be defined as the to

Measuring point elasticity on a non-linear demand curve, Measuring Point El...

Measuring Point Elasticity on a Non-linear Demand Curve Let's now explain the method of measuring point elasticity on a non-linear demand curve. Assume we want to measure the

Monopolistic practices, MONOPOLISTIC PRACTICES The following practices...

MONOPOLISTIC PRACTICES The following practices may be said to characterize monopolies. Exclusive dealing to supply and collective boycott Producers agree to supply onl

Determine marginal cost and hourly earnings, A firm hires two risk-neutral ...

A firm hires two risk-neutral workers to assemble bicycles and pays $20 for each assembly.Charlie's marginal cost of allocating effort (measured in dollars) to the production proce

Fundamental concepts of decision-making theory, fundamental concepts of dec...

fundamental concepts of decision-making theory The fundamental concepts of decision-making theory have been culled from microeconomic theory and have been furnished with new t

Income elasticity of demand, Aside from the price of a product and its subs...

Aside from the price of a product and its substitutes, another significant element of demand for a product is consumer's income. As noticed previously, relationship between demand

Derive from production and consumption, (a) Define and explain, using dia...

(a) Define and explain, using diagrams, consumers' surplus; producers' surplus and total surplus that a society can derive from production and consumption of a good at a particu

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd