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Because discretionary Income = the money people have left over once they have paid for all of their basic needs (Food, Clothing, Shelter). You could also call it Disposable Income due to you can spend on whatever you need.
(a) Explain the meaning of efficiency in economics and use a sketch diagram to illustrate its attainment by reference to the Production Possibility Curve. (b) Refer to the
How can an economy achieve mutual gain from International Trade?
The Budget Line: The Consumer Constraints The consumer would like to maximize his satisfaction by reaching the highest possible indifference curve. But in the process, he faces
Explain the trade-off between equity and efficiency. Identify how individuals and organizations are likely to change their behavior as a result of government actions.
Shambles, a large toy retailer, are looking at bringing out a new range of soft toys. The range under consideration is "Mythical Beasts." The "Mythical Beasts" range will cost £50
briefly explain any five uses of national income statistics
One of the main tenets of economic analysis is that people act in their own narrow interests. Why, then, do people leave tips in restaurants? If a study were to compare the size of
I used to think that economic growth ( more production) was only possible / able to occur because banks lent out more than they had (fractional reserve credit banking). Apparently
Q. Is Household savings depend on GDP in the cross model? Household savings depends on Y since S H = Y - C - NT and C and NT both rely on Y. How it depends on Y can't be concl
Give detail explanation of Exchange Rate In most countries, exchange rate is expressed using foreign currency as base currency. For instance, in Denmark, USD exchange rate woul
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