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Q. Define government surplus?
Surplus, Government:It's a government surplus exists when a government's tax revenues surpasses its total spending (including both program spending and interest charges).
Sustainability: A condition in which economy doesn't utilize more resources from natural environment than can be replenished by normal reproductive capacity of the environment, and doesn't expel more pollution into the environment than can be absorbed without ongoing deterioration in environmental quality. Only a sustainable economy can function long into future without encountering environmental or natural limits.
#questions..
For each of following production functions, comment on the ability to substitute capital for labor. Note that Q, K, and L denote output, capital, and labor respectively. A: B
INFO: Suppose that a firm is currently employing 20 workers,(the only variable input), at a wage rate of $60. The average product of labor is $30, the last worker added 12 units to
Terms of Trade: The ratio of average price of a country's exports, to average price of its imports, is its terms of trade. Theoretically an improvement in a country's terms of trad
definition
I need some help to answer a discussion topic question about Potential Pareto Improvement, based on an article
8,000,000 people in the population who are 16 yrs of age and older. 80% are willing to work. Currently 10% unemployment rate. a. how many people in labor force? b. How many are un
What are the economies and diseconomics of scale?
EXCHANGE RATE SYSTEM: It is interesting to look at a case study of a country like India for several reasons: first it is a small country in terms of imports and exports as a p
a) The production function of certain firm is given as Q = 40 K 1/2 L 3/4 A unit of capital and labour costs Kshs 44 and Kshs 36 respectively. The firm would like to maxim
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