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State the term National income statistics
National income statistics underestimate the true level of economic activity, and as people's living standards, because the non-monetised economy is under-represented. In the UK, housework and 'do-it-yourself' home improvement take place without money incomes being formed. The contribution of these to living standards is imputed, but the 'guesses' are generally too low.
explain the structure of the economy and its impact on the gdp of sountry.
Use a diagram of the open economy model (e.g. fig 32.4 from the text) to illustrate and explain the effect of the following event on the market for loanable funds, the level of net
Derive saving- investment recognize in the context of an open economy. From national income accounting shows that an enhance in taxes (whereas transfer unchanged) must imply a
what is the impact of interest rate in consumption
I. Consider the following static optimization problem. Suppose that a consumer has financial wealth W and owns the house H¯ . She has utility over housing H and nonhousing co
: Suppose that 100 people live around a hazardous waste dump. If the people continue to live there for 20 years, one of them will likely contract a painful, non-fatal cancer that w
explanations to the short-run fluctuation and pilicy prescriptions of the schools macroeconomics thought
Which of the following is a reason why the aggregate demand curve slopes downward? a. At a higher price level, fewer goods and services are available. b. Periods when the price lev
ISSUES RELATED TO BALANCE OF PAYMENTS: It is to be remembered that the Indian economy witnessed varying intensities of BOP problem during 1956-9 1. However over the 1990s,
Use the following data for a firm's output at various levels of employment (L) to calculate: a) its marginal physical product of labor (MPPL) schedule; (b) its (MPPL/MRCL) schedule
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