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Uses of national income statistics: - It helps to organize economic data and activities. - It helps to classify economic activities into various segments or sectors. - It he
In John Stossel's article, "In Praise of Price Gouging", Stossel argues that a law banning price gouging would result in a two-block line for gasoline after Superstorm Sandy. a.
What is use of analytical tools in the modern economics? Analytical Tools: Modern economics also gives different powerful analytical tools which are usually specified by geo
Current Account: The Current Account can be broken down into two parts, viz., one, balance of trade, and, two, balance on invisibles. The Balance of Trade (BOT) deals only wit
When somebody wearing muddy shoes rides a public bus, he imposes a negative externality on other riders (passengers get some mud rubbed off on them, and the shoes look ugly). If a
(i) How do we measure economic growth and why do we need economic growth? (ii) What can governments do to stimulate economic growth and create jobs? (provide some current exampl
what is the theory of second best? prove the theorem with the help of a diagram.
characteristic of duopoly
What have been some justifications given for the historical exclusion of household production from the national accounts? Some reasons have included: a. households are not p
What is consumer surplus? What is its significance and what causes it to change?
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