Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
The Budget Line The line BB gives the persons budget constraint. It is described by the linear equation
c + wl = w;
which can be rewritten as
c = w - wl:
The budget line gives all the consumption-leisure combinations that the person can potentially enjoy with his one unit of time.1 The slope of the budget constraint is given by (the negative of) the wage rate, w. Think about this as representing the relative price of leisure in terms of consumption: if the person desires to enjoy an extra unit of leisure he must sacrifice w in terms of consumption. If the person worked all of his time, so that leisure was zero, then his consumption would be w. This is the vertical intercept of the line. If he did not work, then his leisure would equal one, implying l = 1. He would of course have no consumption, so c = 0. This is the horizontal intercept.
Illustrates the key terms of excise tax? Terms of excise tax: a. Tax incidence • Who bears the load of the tax? b. Excess burden or Deadweight loss • Taxes inflict
Differentiate between nominal and real exchange rate. Nominal exchange rate is the rate which actually prevails in the foreign swap market. The real exchange rate is the rate
Demand Curve The demand curve is a graph which presents the amount of a good that consumers are willing and able to buy at various prices. A normal demand curve is downward slo
having utility function U(x,y)= x1/2=y1/2, determine the hicksian demand function, expenditure function and indirect utility function.
What is Economic Depreciation?
What are the basic analytical frameworks of modern economics? The fundamental analytical framework of modern economics: The fundamental analytical framework for an econom
Normal 0 false false false EN-IN X-NONE X-NONE MicrosoftInternetExplorer4
the law diminishing marginal utility explain through flow chart
Define law of supply. Quantity supplied rises as price raises, other things constant. In other words, "Other things being equivalent, when the price of a product rises, then s
Problem 1: Write short notes on all of the following: (a) Log Linear regression model (b) Lin-Log regression model (c) Individual versus Overall Significance Probl
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd