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Another school of thought developed what is called loanable funds theory of interest. Among the principle economists who contributed to the development of loanable funds theory men
The act of production involves the transformation of inputs into output. Production is a transformation of physical inputs into physical inputs into physical output. The output is
What is Expenditure Function? The Expenditure Function: When preferences satisfy the local nonsatiation assumption, in that case v(p, m) will be strictly increasing into m.
INTERNATIONAL MONETARY FUND: The important objectives before the Fund presently are as follows: • To promote international cooperation; • To facilitate the expansion and ba
Determinants of Social Demand for Education - Equity Perfect equality is not observed in any society. Hierarchy in status, standards of living, capacities for effective demand
Adding the economic activities of government to the circular flow model shows that: 1. Government spending creates inflation 2. Government purchases of goods and services,
introduction of this model
Income and Substitution Effects A fall in price of a good has the two effects: Substitution & Income -Substitution Effect Consumers will tend to buy more of the good
What is consumer surplus? What is its significance and what causes it to change?
Is Indian companies running a risk by not giving attention to cost cutting? 2. Discuss whether Indian Consumer goods industry is growing at the cost of future profitability. 3. Dis
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