What is Baxter's law?

Q: Command economies are most likely to encourage an underground economy? true or false

A: The government determines in a command economy what goods and services will be generated, and what…

Q: What is okun's law ?

A: The law shows the relationship between the unemployment rata and the GDP.

Q: List 3 possible explanations of the Leontief pardox

A: International economics deals with the allocation and proper utilization of the scarce resources…

Q: What can we learn from the Strength and Weaknesses of Malthusian Theory?

A: Malthusian Theory: The rise in the number of people and the strain it exerts on the resources of the…

Q: Why is the circular flow model important?

A: A circular flow model is a model that shows the flow of income between the households or consumers…

Q: What is golden rule solution?

A: Introduction : In economics, the Golden Rule savings rate is the rate of savings which maximizes…

Q: Economics came from the Greek word Oikos which means scarcity. Select one: True False

A: Scarcity: It refers to the problem of resources that are limited in the economy and wants of the…

Q: Give simple states for the grounds, which are criticized by mill's theory.

A:

Q: How does macroeconomics help analyze the impact of the coronavirus that swept the world late last,…

A: The Coronavirus or Covid-19 is the most discussed dangerous pandemic that is currently active all…

Q: Who currently favors Milton Friedman’s theories currently?

A: Answer -

Q: The five force model is a framework

A: The model that represents economic processes through a set of variables and a set of logic and…

Q: What is Engel's law?

A: Engel's law shows relationship between family income and expenditure.

Q: What is the purpose of building a theory?

A: Theories are explanation of natural or human behaviour or an event. Theory building helps us in…

Q: What are the flaws in each of the framework model's political or social mechanisms?

A: Political mechanisms: This article situates mechanism- and process-based explanations within the…

Q: What is the importance of Matrices in mathematical economics?

A: Mathematical economics is an economic model that uses the principles and methods of mathematics to…

Q: why the Nobel Prize in Economics in 2020 was awarded to Paul Milgrom and Robert Wilson

A: The Nobel Prize in Economics in 2020 was awarded to Paul Milgrom and Robert Wilson for their work on…

Q: Identify three macroeconomic issues that have been in the news recently.

A: The economics as a study is based upon the phenomenon of the making decisions in the presence of…

Q: Adam Smith most likely agree?

A: Laissez-faire is an economic system in which transactions between private groups of people are free…

Q: Please solve ASAP

A: IS curve (Fiscal policy ) shows the inverse relationship between interest rate and quantity. The IS…

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: What can we learn from Malthusian Theory?

A: The two important things that matter according to Robert Malthus: *Population *Means of substance…

Q: Smith is against the mercantilism. Please explain what mercantilism means in a few brief sentences.

A: Smith is against Mercantilism. Mercantilists as a class in Economics can be explained as follows :

Q: What is systemic initiative

A: Initiating is having the ability to take action independently which advances a series of actions.…

Q: who is Thomas Malthus ?

A: Thomas Malthus was an (English) economist and demographer who was known for his theory on the…

Q: What are Direct Materials?

A: Direct materials are the physical items that are used in the manufacturing process to produce the…

Q: Compare and contrast Say's law with Kemudian economics.

A: Aggregate demand refers to the demand for final goods and services by all sectors in the economy.…

Q: What is pre Malthusian theory?

A: The Malthusian Theory of Population is based on the exponential growth of population and arithmetic…

Q: What are the Strength and Weaknesses of Malthusian Theory?

A: Malthusian Theory This theory of population was given by British economist T. R. Malthus. This…

Q: Why is Malthus theory enticing to Neo Malthusians?

A: Initially to tell about the Malthus theory, it states that the growth in the production of food…

Q: Is the international gold standard is an example of spontaneous order?

A: The international gold standard is a system where gold or currency which is convertible into gold at…

Q: Define Dependency Theory?

A: Dependency Theories was developed around the same time as 'decolonization', and 'tried to explain…

Q: What is economic uncertainty?

A: Economic uncertainty proposes the future stance for the economy is unexpectable. When people talk of…

Q: What was Adams Smith’s invisible hand, and what economic function did it serve?

A: Adams Smith is known for his remarkable contribution in economics studies due to which he is known…

Q: What made Jose Rizal become a mason?

A: José Rizal is regarded as one of the Philippines' most illustrious figures. He was a political…

Q: What is the reason why we use general equilibrium models in monetary economics?

A: Walras fostered the overall harmony hypothesis to tackle a much-discussed issue in financial…

Q: Econometric models have nothing to do with the reality." What say you?

A: Econometric models are the part of economic analysis as it uses statistical tools to explain the…

Q: What is the importance of the phrase "Invisible hand" Introduced by Adam Smith in his book "The…

A: The distribution of resources emerges as a challenge to a society that is resources in a finite…

Q: How are Milton Friedman’s theories applied?

A: Economics is the study of scarce resources. It means the resources are limited and our wants are…

Q: Describe accelerator principle?

A: The concept that comprises cycles that comprise upswings and downswings observed in the level of…

Q: What were Milton Friedman’s economic theory’s general principles and who did he advise?

A: Milton Friedman was basically an American economist who advocated for free market capitalism.During…