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Question 1: "Most of the firms spend considerable amounts of money on advertisement". Explain advertising elasticity of demand and its practical applications in this context.
Question 2: Explain production function in detail. Explanation of production function
Question 3: Explain Marris' Growth Maximisation Model in detail.
Explanation of the model
Question 4: Explain Price -output determination under monopoly.
Question 5: "Investment is the second important component of effective demand". Explain investment function.
Question 6: Write short notes on:
a) Monetary Policy
b) Physical policy or direct controls
c) Parameters and objectives
d) Instruments and disadvantages
Provide a graph of the Solow model, indicating the position of the golden rule level of saving (SR), and explain why it is preferred.
What are the macro and micro problems? What systems are affected structural, psychosocial, technical, managerial, goals?
Explain carefully in terms of production theory why it might be that no amount of "cracking down" can increase worker productivity at CF&D.
Imagine a person's utility function over two goods, X and Y, where Y represents dollars. Specifically, assume a Cobb-Douglas utility function:
In which of the following circumstances is expansionary fiscal policy more likely to lead to a short-run increase in investment? Explain?
Identify trends or other patterns in inflation within the an economy of your choice over the last five years using quarterly data from the Central Bank or other Government based Statistical agency websites as a source.
Suppose the marginal expense of hiring another worker is $150 and the marginal expense of hiring current workers for an extra hour is $10.
Mention and describe the three theories for why the short-run aggregate-supply curve is upward sloping.
Political business cycle: Do economic events affect presidential elections? To test this so-called political business cycle theory, Gary Smith 20 obtained the following regression results based on the U.S Presidential elections for the four yearl..
The agricultural market for corn usually can be characterized as a purely competitive industry. How might the following events affect the shot-run cost curves and output for a firm in the industry?
Write a 400- to 700-word memo to the economic adviser. Describe the change in tax revenues for the government in the new equilibrium, in both the short and longer terms.
Between your answers to parts b and c, which prices/capacity are best applied from a social welfare perspective? Why?
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