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Q. What do you mean by Price index? Because we are only interested in percentage change of the price level and not particular value, we can divide every price level by a given
Camping at Wilson's Promontory, a national park in Victoria, isn't free, but for many years now not everyone who wants to camp at Wilson's Promontory during the Christmas holidays
MONEY AND CREDIT In any modern economy, the quantity of money, aggregate volume of credit and its sectoral composition are important variables which exert significant influenc
Do we get paid nominal or real wage?
In 2010, Forbes magazine listed Bill Gates, the founder of Microsoft, as the richest person in the United States. His personal wealth was estimated to be $53 billion. If there were
Q. What do you mean by yield curve? Yield curve is a graph of interest rates of different maturity (recalculated to yearly rates) at a specific point in time. It's common for t
What is Trade liberalisation Trade liberalisation is the removal of barriers to trade. This has mainly taken the form of restrictions created by national governments like quot
This economics of scale exist for all of the following reasons except: a. bureaucratic inefficiencies b. management problems c. failures in information flows d. firm size is to
Properties of indifference curve: Property I: Higher indifference curve gives higher utility. Explanation: Since all goods are non-satiated, larger consumpti
Absolute income hypothesis
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