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Explain about economic cycle
The economic cycle is a period of approximately 6 or 7 years in which the economy completes a cycle of downturn, recovery, recession, and boom. A peak and a trough are further features of the cycle.
Explain about the diminishing returns to an input. There are diminishing returns to an input while an increase within the quantity of which input, holding the levels of each of
What factors shift out the PPC and what is the opportunity cost of the economy moving out to get back on the PPC? Explain?
What is the difference between economic growth and economic development? Growth is only individual dimension of development. Economic development is a complicated multi-dimensio
HOW INCOME TERMS OF TRADE DIFFER WITH COMMODITY TERMS OF TRADE"
Who decides what goods services will be produced and sold in the US? Ans) It is mostly the American consumer. The US government also plays a big role in the nation's economy, co
Discuss what policy changes he might be likely to propose with respect the issue that you identified as one about which he might be concerned.
Differentiate between Actual and Potential output. Actual output is that level which economy in fact produces. In contrast, potential output is the aggregate capacity output o
Q. What do you mean by Patulin? It is a toxic and antibiotic metabolite produced by several species of Penicillin, Aspergillus and Paeciliomyces but the most important in the c
Using the PPC show what is meant by the law of increasing opportunity cost and explain (state) why that law exists. Why is that law important when deciding whether or not to watch
What are the international economic crisis A current account surplus can only take place in one nation if there is a current account shortage in another country. So it makes no
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