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FUTURE DIRECTIONS: It is often said that the difficult things are the beautiful things, and if they are as vital for healthy national development as an economy, society and po
What are the "three basic economic questions" that economists often address when examining how much economic output is formed? The three basic questions are: a) what is prod
WHAT IA GMP
Explain how unemployment could be voluntary or involuntary . Start off with a definition of the labour force and then outline the proportion of the labour force which would be
What are expansionary and contractionary effects? Expansionary effect refers to the effect of raising the equilibrium level of national income. For example, an increase in gov
Prove the theory of second best with the help of a diagram
What are the properties of consumer demand? Properties of Consumer Demand: In this section check the comparative statics of consumer demand behaviour as: how the demand of cons
what total cost function yields a U-shaped average total cost function
What is contraction of supply?
cars:0,2,4,6,8 tow truck:30,27,21,12,0
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