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Private sector in the circular flow The private sector total income is known as the national income. Because private sector receives the entire return from the factors of pr
Positive and normative economics -introductiion Economic theory or analysis evolves from basic propositions about how individual human beings (or individual economic units) beh
What is the relationship between deposit multipier,Credit Multiplier and Deposit multiplier?
what is gdp
Suppose you will receive $130 in six months and have access to an account that earns 1/2% per month. If you deposited the money into the account how much would you have 17 months f
Mathematical Presentation: Consider the utility function U = U(x 1 , x 2 ). Differentiating totally, we get the following: dU = U 1 dx 1 + U 2 dx 2 = 0 (as along the indiffe
What is the difference between economic growth and economic development? Growth is only individual dimension of development. Economic development is a complicated multi-dimensio
Outline briefly a. How people make decisions? b. How they interact? c. How economy as a whole works? 1. Give three examples of important trade offs, th
A coil of inductance 0.04H and resistance 10Ω is linked to a 120V, d.c. supply. Determine (a) The ?nal value of current, (b) The time constant of the circuit, (c) The va
What is the significance of the observations made by OECD in this case study regarding “The OECD economies are more strongly dependent on the production, distribution and use of kn
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