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Explain about the elasticity and total revenue. Elasticity and Total Revenue: a. When demand for a good is elastic, a raise in price decreases total revenue. Then Sales effe
why is international trade important to sa
Why are Economic Models uses for Trade-offs and Trade? Simplified representations of actuality a. production possibility frontier b. comparative advantage c. circular-
THE FOUR BIG MACROECONOMIC ISSUES AND THEIR INTER-RELATIONSHIPS 1. Link between growth/development and the various factors of production of the commodities: Before we mov
How growth are improved living standards The two main benefits of growth are improved living standards and technological advancement. As an economy grows, the output of
Q. Is Consumption depend on GDP in the cross model? Aggregate demand The consumption function Consumption C(Y) depends positively on GDP in the cross
Q. Explain Growth theory? The purpose of this topic is to try to explain growth in GDP. The models in this topic are very different from the rest of the models as they use only
The consumption function of an economy is given by c = 200+0.75(y-t) And the investment function by I = 200 = - 25r. Government purchases G and taxes Τ are both 100. T
differentiate among the theory of external trade
Question 1: (a) Outline the three main methods of recruitment. (b) Discuss the advantages & disadvantages of any one method mentioned above.
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