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Q. Explain Nominal GDP? Nominal GDP: Nominal gross domestic product measures total value of all the services and goods produced and traded for money in the formal economy, eval
using necessary and sufficient conditions explain consumer equilibrium diagrammatically as well as mathematically
Implementation of economic policy: On the ability of civil servants and Government to learn, Government must possess the following qualities to ensure implementation of econom
Program Spending: Government spending that is undertaken to provide useful public programs. Program spending includes both transfer payments which are intended to supplement the in
Increase in Productivity and Real Wage Earnings: Labour has been charged that whereas it presses for higher wages through trade unions, it has failed to raise productivity. Sh
1) Describe (with an example) how trading can lead to an increase in world output if countries specialize in the good in which they have a comparative advantage. How does the intr
Explanation of the Break in Trend: An economy can grow in three different ways or all three ways may work simultaneously: 1) Horizontally, i.e., it may go on producing m
Money: Broadly speaking, money is anything which can be used as a means of payment (for instance, to settle a debt). It includes bank deposits, actual currency, credit cards and li
Explainbainlimitpricetheory
Q. Explain about Counter-Cyclical Policies? Counter-Cyclical Policies:Governments may take many different actions to offset ongoing booms and busts of private-sector economy. T
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