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ESTIMATION OF NATIONAL INCOME: In India, the first attempt to estimate national income and per capita income was made in the year 1867-68 by Shri Dadabhai Naoroji. This was fo
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Marginal utility - It is the measure of the additional satisfaction obtained from consuming one additional unit of good. * Marginal Utility: An instance - The marginal u
Current Daily Status(CDS): The reference periods (i.e. a year, a week and a day) are basically used to describe the period for which the workers are employed in the economy. T
Input-Output Models Input-output models are used in economics of education in studies of cost-quality and education-labour-earnings relationships. Different levels and forms
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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
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Unemployment: Individuals who want to be employed, and are actively seeking work, but can't find a job, are considered ‘officially' unemployed. Individuals who aren't working, but
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