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Q. Explain about Real Wages? Real Wages:Value of wages, adjusted for level of consumer prices. If nominal value of wages is growing faster than consumer prices, then real wages
who propounded the pure international theory of trade?
Ways in which the markets fail and discuss why government intervention is justified and whether government intervention works or not.
its elements , scope calculation
Learning Curve in Practice * Scenario - A new firm enters chemical processing industry. * Do they: 1) Produce a low level output and sell at high price? 2) Produce
What is hyper inflation? How it can be reduced? Hyper inflation means that prices of the consumable goods are very high. Prices can be decreased by supplying more goods in th
subsitution effect dominate tha income effect in which good case?
Explain the term economic efficiency? Answer: Economic Efficiency means full utilization of all available resources in economy i.e. to produce the needed amount of goods and
Program Spending: Government spending that is undertaken to provide useful public programs. Program spending includes both transfer payments which are intended to supplement the in
BUREAUCRACY: M de Gournay, an economist of France, first coined the word Bureaucracy in the eighteenth century to refer to "a fourth or fifth form of Government" in which "off
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