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What is main difference between nominal money supply and real money supply? Real money supply is the supply of real money in the economy. Real money is supplied considering th
Income and Substitution Effects A fall in price of a good has the two effects: Substitution & Income -Substitution Effect Consumers will tend to buy more of the good
Institutionalist Economics: A school of heterodox economicsthat emphasizes importance of institutional development and evolution (as opposed to ‘pure' market forces) in explaining
explain budget line?
In neoclassical economics, equilibrium exists when supply equals demand for a particular commodity. General equilibrium is a special (purely hypothetical) condition in which every
Q. What is Monetarism? Monetarism:Monetarism was a right-wing economic theory (associated with work of Milton Friedman, in particular) which believed that inflation could be co
Is the natural rate of unemployment includes frictional, structural & seasonal unemployment? The natural rate of unemployment contains frictional, structural & seasonal unempl
Q. Asymmetric Information - Insurance Markets? In the United States, health insurance is usually provided for employees through contracts between the insurance company and thei
Explain opportunity costs using a PPF where investment goods are on one axis and consumption goods on the other. Again, a good definition of opportunity costs linked to the not
Solve equation P=200-Qs and Qs=4.5p +5
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