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Organization for Economic Development (OECD)
An international organization found in Paris France in 1961, to act as a worldwide forum to stimulate world trade and economic development. The OECD's membership consists of the world's developed countries like Austria, Australia, Belgium, Denmark, Canada, France, Finland, Greece, Iceland, Ireland, Italy, Luxembourg, Japan, the Netherlands, New Zealand, Spain, Norway, Sweden, Portugal, Switzerland, Turkey, United Kingdom and last is The United States.
FUNCTIONS OF CENTRAL BANK Economists and financial experts lack in unanimity about the functions of a central bank. According to Kisch and Elkin, the essential function of a c
producer equllibrium
A firm faces a perfectly elastic demand for its output at a price of $6 per unit of output. The firm, Though, faces an upward-sloped labor supply curve of E= 20w-120 W
(Kinky Demand Curve) Short Period Kinked demand curve was first used by Prof. Paul M. Sweezy to elucidate price rigidity under oligopoly. In an oligopoly market, firm knows that
NATIONAL INCOME AND WELFARE The relationship between National Income and Welfare is best explained in terms of economic growth (By economic growth is meant capacity expansio
Milton Friedman makes the demand for money a function of the real per capital permanent income. in this study the demand function for money is stated as; M/NPP= r( YP/NP) δ W
SEARCH THEORIES - A BRIEF' HISTORICAL OVERVIEW A search theory of unemployment is found even in the writings of A. C. Pigou in the inter-war period. To explain the high
Currency Swaps If the currency of one country is not convertible, the central banks o f the two countries can exchange their currencies, and the country with the non-convertib
The Circular Flow of Income and Expenditure This is an economic model illustrating the flow of payments and receipts between domestic firms and domestic households. The househo
Q. What is Transport and Storage Economies? As the output increases, unit cost of transportation of raw materials, intermediate products and finished products fall. This is for
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