Is black money hurdle for economic progress? Discuss any five points.

Q: Which of the following are myths about the U.S. economy? Check all that apply. A. The United States…

A: The tax revenue in America is around 24% of GDP and America is the largest consumer market.

Q: Discuss the circular economy.

A: Circular flow/ circular economy model explains how an economy functions. It analyses the way goods,…

Q: Briefly (1-2 sentences) explain whether the following statement is positive or normative and why.…

A: Positive statement: - positive statements are those statements that described things as it is and is…

Q: The $2.2T Coronavirus Aid, Relief and Economic Security (CARES) Act & the $1.9T American Rescue Plan…

A: Expansionary fiscal policy refers to when the government uses budgetary measures to boost spending…

Q: But is it really the case that if the government gave everyonein the economy an extra $1,000,…

A: There are two effects which are short run effect and another is long run effect. But in this…

Q: If a Phillip curve shows that unemployment is low and inflation is high in the economy, then that…

A: Phillip Curve is a economic model that shows the inverse relationship between unemployment and rate…

Q: The variable of most interest in economics is not:     HH welfare in the aggregate     Economic…

A: Economic welfare is the summation of prouder surplus and consumer surplus that obtained in an…

Q: According to the trilemma, which three macroeconomic policies are mutually inconsistent?

A: The currencies are bought and sold in the foreign exchange market. The equilibrium price of foreign…

Q: The quantity equation Group of answer choices tells us the aggregate level of production in society.…

A: Quantity theory of money tells us that money supply and the price level is directly proportional to…

Q: Question attahed in image

A: A decrease in the price level of a particular commodity means that the consumers are now able to…

Q: n financial markets, savers can directly provide funds to borrowers. Select one: a. Fales. b. True.

A: Financial Market: It broadly refers to any marketplace where the securities are traded, among one…

Q: Discuss each of the following statements from the standpoints of equity and efficiency. a. “Everyone…

A: Meaning of Equality and Efficiency: The term efficiency refers to the situation when an economic…

Q: wealth

A: Wealth is the abundance of financial assets being valuable or the physical possessions which could…

Q: State whether the following statement is True or False with reason: Macro economics studies whole…

A: # In economics, we have to study both the individual behaviour and the behaviour of the economy as a…

Q: In January 2021, the Government cut the JobKeeper subsidy to pandemic-hit businesses for employing…

A: Economic recovery is the period when the GDP and business activity improves after recession.

Q: Clasify each of the following statements as positive,or normative.Explain.a.Society faces a…

A: Since you have posted a question with multiple sub-parts, we will solve first three subparts for…

Q: In neoclassical economic theory markets are relied on to allocate resources and distribute income –…

A: Market Failure refers to a situation when, the market mechanism, which is based on the forces of…

Q: The economic crash that led the dark path into the great depression included overspending and what…

A: A depression is a prolonged period of economic downturn. Depression is characterized by a sharp…

Q: Using the Circular flow of money and goods, discuss how decisions in a household affected the…

A: Business impedances and terminations from social-isolating measures. To evaluate the monetary impact…

Q: Which of the following best describes the role of households and firms in the circular flow model of…

A: The circular flow of income shows the exchanges of money, goods and services in the economy among…

Q: A key insight in modern macroeconomics is to understand that: a. all the above are correct b.…

A: Macroeconomics considered as a part of financial matters that reviews the economy in general.…

Q: Assume the self-correcting economy's criteria, and predict the possible consequences of rent…

A: If rent decreases, then the income of land owners will decrease as a result. Hence, national income…

Q: A friend of yours expresses the opinion that the only resource that is important in the macroeconomy…

A: Money is a resource or asset that is accepted and used as an exchange medium to buy commodities and…

Q: why is the economy not self-correcting? What can be done about it?

A: The principle that if economy is left to its own devices is called self-correcting. When an economy…

Q: Explain why Karl Marx said that even if the wage increases, it will still go back to its subsistence…

A: Subsistence wages are the wages that enable a worker to fulfill his or her basic needs. Subsistence…

Q: Why is the economic indicator “consumer sentiment” relevant for making successful policy decisions?

A: Economic Indicator:- Economic Indicator are the economic data that is used analyze economic…

Q: The basic difference between macroeconomics and microeconomics is: Group of answer choices…

A:

Q: If markets do not self-adjust, how can a decline in spending lead to a negative process that ruins…

A: Markets usually self adjust in the long run, if the market do not self adjust then any kind of a…

Q: Identify each of the following topics as being part of microeconomics or macroeconomics: the impact…

A: Microeconomics is a part of economics that deals with individual units and study the behavior of…

Q: Discuss the main contributions of 1 economist that influenced by John Maynard Keynes (Keynesianism,…

A: Joan Violet Robinson was a Keynesian economist who was undoubtedly the only great female economist…

Q: Relative price of cheese, PPw aic/aiw * RS | RD `RD a Llac Relative quantity of cheese.0 In the…

A:

Q: came into prominence in 1916 througl the writings of A. J.M.Keynes B. L.E.Von Miser C. Gustav Cassel…

A: According to the given question The purchasing power parity theory is considered as an theory in…

Q: How does Matthew effect affect the principles of economics.

A: The term "economic principle" refers to a broad range of economic rules and ideas that describe or…

Q: What is true about equilibrium price level? a. There will be some surplus in the economy b. There…

A: Equilibrium occurs at the intersection of demand and supply curves, that is where quantity demanded…

Q: What is the central economic proplem?

A: Economics is the branch of social science that studies the production, consumption, and distribution…

Q: When the economy is not producing at capacity, economic policies are Select one: a. None of these b.…

A: Here, the economy is operating below full capacity.

Q: What is the water diamond paradox in our modern economics?

A: Total Utility is the total satisfaction obtained by consuming a particular amount of good or…

Q: Microeconomics deals with __________. a. Economy as a whole b. Aggregate demand and supply c. Income…

A: Aggregate demand is the total amount of goods and services that all the consumers in the economy…

Q: 6. Supply creates demand a. Say's law b. Keynesian law

A: Say's law and Keynesian law are two different laws of economy. Say's law related to classical theory…

Q: Derive and use the equilibrium in the goods market (Keynesian cross) to explain how a drop in…

A: In the Keynesian cross we have, C=a+cY, where c is the marginal propensity to consume. equilibrium…

Q: The circular-flow diagram is a

A: The circular-flow model or diagram is the graphical representation of the flow of goods or services…

Q: What are the two policy options used to influence the economy?Expalin in detail.

A: Two policy options used by the government are: Fiscal policy Monetary policy Fiscal policy: It is…

Q: Is there an economic policy known as "trickle down" economics?

A: The study of economics is the study of how society makes use of its limited resources. Economics is…

Q: Despite their differences, with which proposition are two economists chosen at random most likely to…

A: These two economists have their concepts. This is reflected by the differences in their viewpoints…

Q: Suppose Congress enacts a tax reform law, and the average federal tax rate drops from 30 per- cent…

A: Laffer Curve: This is the curve that exhibits the relationship between the tax rate imposed by the…

Q: Fiscal policy and Monetary policy what effect can they have on macroeconomic, name any policy that…

A: In an economy, monetary and fiscal policies are two measures action by the government and central…