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Supply of labor, L S (W/P), depends positively on real wages in classical model. It isn't always clear which individuals are included in the labor supply. Labor supply may consist
In real life, the operation of simple multiplier is affected by many leakages. Leakages in the multiplier arise out of the following reasons: (1) Saving: If all the income is sp
you and your neighbor (n) consume without trading. suppose you are initially consuming 7 bananas and 3 coconuts and your neighbor is initially consuming 6 bananas and8 coconuts. Yo
what are the advantages and disadvantages of a national income and green GDP? national income figures are often used to compare living standards across countries and through time.
An ecologist has been reading the literature on the subject of factors affecting growth and metamorphosis of tadpoles in ponds. Some frog species (e.g. Hyla gratiosa) reproduce in
1. What is law of diminishing marginal utility? 2. Find out the marginal utility for the following schedule of consuming pizza Pizza consumed 0
What is the difference between the short-run framework and the long-run framework? Discuss how each relates to supply and demand.
explain the effects of various injections and withdrawals and show the equilibrium in the circular flow
In the short run, the discrepancy between actual and expected price level causes changes in output and employment. But in the long run, if all other things remain constant, the hig
Suppose you buy call options on Microsoft stock. Each option costs $2 and has the strike price of $40 and the expiration date July 1. Discuss whether you would exercise the options
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