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Economic functions of money - A medium of exchange
This is its most important role. Without money we would live in a barter economy where we would have to trade goods and services for other goods and services. If I had fish but wanted bread, I would need to find someone who was in the precise opposite situation. In a monetary economy I can trade fish for money with one individual and money for bread with another. Money solves what is called the double coincidence of wants.
what is keynesian model
Q. Explain the basic characteristics of IS-curve? IS-LM diagram IS-curve The IS curve shows all combinations of R and Y where the goods marketis in
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what are the advantages and disadvantages of unemployment
concept of static and dynamic multiplier
Consider the impact of an increase in thriftiness in the Keynesian-cross analysis. Assume that the marginal propensity to consume is unchanged, but the intercept of the consumption
illustrate and discuss the implications of various market structures (competitive and non-competitive)for price determination.
Buying government securities: When a commercial bank buys government bonds, the effect is substantially the same as that of lending - new money is created. To
Q. Describe Market interest rates? The most significant interest rates from a macroeconomic perspective are interest rates that government pays on the loans they use to finance
George has been selling 5,000 T-shirts per month for $8.50. When he increased the price to $9.50 he sold only 4,000 T-shirts. What is the demand elasticity? If his marginal cost is
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