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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 government spending will have expansionary effect on the equilibrium level of national income. On the contrary, contractionary effect refers to the effect of lowering the equilibrium level of national income. For example, enhance in tax will have contractionary effect on the equilibrium level of national income.
Elasticity of Demand Price elasticity of demand measures percentage change in quantity demanded which results from a 1 % change in price. Price Elasticity
Cropping Pattern Over Time: The dominance of food crops and among food crops that of rice and wheat only states the existing cropping patterns. It is important to study the tr
Learning curve implies: 1) The requirement of labor falls per unit. 2) Costs will be high at 1 st and then will fall with learning. 3) After eight years the labor requ
In the following article , I want you to comment on the type of market structure and whether Kinked Demand apply and what will possibly be the market share for GM and VW? ""In case
If the marginal product of labor is 45 units of output and the marginal products of capital is 56 units of output while the wage rate is $20 per worker and the cost of capital is $
In a small rural town, 150 people would like to be employed (this is the supply of labor). In order to make profits, capitalists hire some of these workers to produce grain. Those
What is Modern Economics? Modern Economics: Modern economics mostly developed within last sixty years, methodically studies individuals’ economic behavior as well as econo
explain slutsky theorm with graphical representation
Structuralist Economics:Its a form of heterodox economicsthat emphasizes relationships betweenincome distribution, effective demand and political and economic power. Structures:
In the table below are given the output (X), T.C., and Price for a firm. Complete the following table, and then answer the questions at the bottom of the table. X T.C P=A.R
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