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The demand and supply conditions of a product are represented by the following equations Aggregate Demand Q equals 15-0.3P Aggregate Supply Q equals 5- 0.1P Calculate the equilibrium price?
aggregate demance=Q=15-0.3p and aggregate supply =5-0.1p calculate the equlibrium price
Uses of national income?
Uses of National Income Data:- 1:National Income as a measure of economic growth - Estimates of national income at constant prices indicate economic growth of a country. 2:National Income as an indicator of success or failure of planning - If a country has adopted planning as a means of economic growth then national income data can help in assessing the achievements of planning. 3: Useful in estimating per capita income - Per capita income is obtained by dividing national income by total population of the country. 4:Useful in assessing the performance of different production sectors - Production units of a country are broadly classified into primary, secondary and tertiary sectors. These sectors generate factor incomes. The data on factor incomes generated by these sectors can be used to measure their relative contributions to national income. 5:Useful in measuring inequalities in the distribution of income - All individuals so not have the same income. It means national income is unequally distributed among people. The extent of inequality in a country can be measured from the national income data collected through the income distribution methods. 6:Useful in measuring standards of income - The expenditure method reveals consumption expenditure and investment expenditure. If the total consumption expenditure is divided by the total investment expenditure we get per capita consumption expenditure which indicates the average standard of living of the people of the country. 7:Makes international comparisons possible - We can compare the economies of any two countries on the basis of their national income data.
Five Inviolable Principles of Economic Impact?
5 Inviolable Principles of economics 1. Exclusion of Local residents 2. Exclusion of time-switchers/casuals 3. Use of Income rather than sales output measures 4. Use of multiplier coefficients over multipliers 5. Careful interpretation of employment measures
What is the traditional view of economic development?
capacity of national economy, whose economic condition has been more or less static for a long time, to generate and sustain an annual increase in its gross national income rates of 5% to 7% or more. (Thirhwall 2006)
What is the definition of macroeconomics?
Definitions of Macroeconomics"Macroeconomics is that part of economics which studies the overall averages and aggregates of the system." (Kenneth Boulding)"Macroeconomics deals with the functioning of the economy as a whole." (Carl Shapiro)The Scope of MacroeconomicsThis includes the use of economic resources at the national level. Theses resources have their effect on the national income, employment, effective demand, aggregate saving, aggregate investment, price level, economic development etc. of the country. Its scope can be divided into following parts:1. Theory of National income: Macroeconomics studies the concept of naational income , its diffferent elements, methods of measurement and social accounting.2. Theory of Employment: Macroeconomics also studies problems relating to employment and unemployment. It studies different factors determining the level of employment, viz, effective ddemand, aggreagte supply, aggregate consumption, aggregate investment, aggregate saving, multiplier, etc.3. Theory of money: Changes in demand for, and supply of money have considerable effect on the level of employment. Macroeconomics therefore, studies functions of money and theries relating to it. Banks and financial institutions are also studied under macroeconomics.4. Theroy of general price level: Determination of and changes in general price level are also studied under macroeconomics. Problems concerning inflation or general rise in prices and deflation or general fall in prices are also studied under macroeconomics.5. Theory of Economics Growth: Study of problems relating to economic growth or increase in per capita real income forms part of macroeconomics. It studies the economic growth of under developed economies. Monetary and fiscal policies of government are also studied under therein.6. Theories of international Trade: Macroeconomics also studies trade among different countries. Theories of international trade, tariff, protection, etc., are subjects of great significance to macro economics.
What is the aggregate of 2 5 and 7?
An aggregate is an unusual term for adding together. So the "aggregate" will be 2 + 5 + 7 = 14
What is approximate Density of stone aggregate?
5
How did Robert Morris proposed to pay off the national debt left over from fighting the Revolutionary War?
5 percent national income tax
The demand and supply conditions of a product are represented by the following equations Aggregate Demand Q equals 15-0.3P Aggregate Supply Q equals 5- 0.1P Calculate the equilibrium price?
aggregate demance=Q=15-0.3p and aggregate supply =5-0.1p calculate the equlibrium price
Uses of national income?
Uses of National Income Data:- 1:National Income as a measure of economic growth - Estimates of national income at constant prices indicate economic growth of a country. 2:National Income as an indicator of success or failure of planning - If a country has adopted planning as a means of economic growth then national income data can help in assessing the achievements of planning. 3: Useful in estimating per capita income - Per capita income is obtained by dividing national income by total population of the country. 4:Useful in assessing the performance of different production sectors - Production units of a country are broadly classified into primary, secondary and tertiary sectors. These sectors generate factor incomes. The data on factor incomes generated by these sectors can be used to measure their relative contributions to national income. 5:Useful in measuring inequalities in the distribution of income - All individuals so not have the same income. It means national income is unequally distributed among people. The extent of inequality in a country can be measured from the national income data collected through the income distribution methods. 6:Useful in measuring standards of income - The expenditure method reveals consumption expenditure and investment expenditure. If the total consumption expenditure is divided by the total investment expenditure we get per capita consumption expenditure which indicates the average standard of living of the people of the country. 7:Makes international comparisons possible - We can compare the economies of any two countries on the basis of their national income data.
What does 5 million each occurrence and in the aggregate mean?
The Aggregate coverage is the maximum the policy will pay out in any given policy term. .
What are 5 precautionary measures in handling plants?
5 measures in handling plants
What are 5 preventive measures for heart ailments?
5 symptons and 5 preventive measures for heart ailments
Five Inviolable Principles of Economic Impact?
5 Inviolable Principles of economics 1. Exclusion of Local residents 2. Exclusion of time-switchers/casuals 3. Use of Income rather than sales output measures 4. Use of multiplier coefficients over multipliers 5. Careful interpretation of employment measures
How did Robert Morris propose to pay off the national debt left over from fighting the Revolutionary War?
He proposed 5% sales tax on imported goods.
What are precautionary measures in handling plants?
5 measures in handling plants
What are the six subcommittees of the House Ways and Means Committee?
1. health 2. Income security and family support 3. oversight 4. select revenue measures 5. social security 6. trade
