what is interest rate? Why in developed countries interest rate is low and in developing countries interest rate is high?

Q: Is it possible to protect workers from losing their jobs without distorting the labor market?

A: A labor market distortion refers to the establishment of a market equilibrium occurring not from the…

Q: Discuss life expectancy  and the different factors that contribute .  How is the United States…

A: Definition: Life expectancy is a  proportion of the average time an individual is relied on expected…

Q: why is the service sector important to the development of the primary and secondary sector?

A: An economy comprises of three sectors. Primary sector (Agriculture sector) Secondary sector…

Q: What is the primary way in which economists measure standards of living? What are some of the other…

A: A standard of living measures the material or economic welfare of the economy. The real GDP per…

Q: what is the importance of calculating the growth rate?

A: Growth rate refers to the percentage change in the variable such as revenue, investment and other…

Q: Which is a better economic indicator, GDP or GNP and explain why?

A: GDP or Gross domestic product refers to the sum total of the final value of all the goods and…

Q: If consumption is $300 and savings is $400 What will be the income?

A: The information being given is:- Consumption = $300 Savings = $400 We need to calculate the value of…

Q: How does the service sector help in the development of primary and secondary sectors?

A: Apart from primary and secondary sectors, there is a third sector called the service sector also…

Q: What is standard of living? Explain one advantage and one disadvantage of using real GDP per capita…

A: Standard of living:-  A country's or nation's standard of living is a representation of the…

Q: Give long information about economic changes.

A: Economic change is defined as a change in the structure of an economic system.This results in…

Q: Do you think that there is strong relationship among health, labor productivity and income levels?…

A: Health is an important factor that determines the ability to work by a person in the economy. When…

Q: household savings in ghana: does economic policy matters? briefly discuss three economic policies…

A: Savings is very important for economic development. Consumption also increases with the increase in…

Q: What is the ratio of the GDP growth rate to the business cycle? Explain.

A: Economic development can be brought about by arbitrary variances, occasional vacillations, changes…

Q: Should people typically pay more attention to their real income or their nominal income? If you…

A: Real income is the income which considers the effect of the increase in the price levels, that is,…

Q: Nominal GDP does not include inflation?

A: GDP measures the market value of all goods and services produced in the economy.

Q: “An increase in a country's population is likely to raise the real interest rate.

A: The IS curve represents the equilibrium in the goods market. The equilibrium in goods market is…

Q: Why do many economists expect income convergence between developed and developing countries, and…

A: The thought of convergence is that the speculation that poorer economies' per capita incomes will…

Q: What’s the relationship between unemployment rate and economic growth rate ?

A: Unemployment is defined as a state in which individuals who are actively seeking for a job are…

Q: strong relationship among health, labor productivity and income levels

A: When the health of a person improves, then s/he becomes an asset which helps in improving the…

Q: What are the implications of inequality between saving and investment in an economy?

A: Saving: It refers to the amount of money that is not being used by the people. The people will save…

Q: What are the three successive stages or phases in the circular flow of income

A: According to the given question Actually circular flow of income is an income which is represented…

Q: In Investment in Human Capital (1962) paper by Gary Becker, what were his key findings and why was…

A: Most people associate capital with a bank account, a hundred shares of IBM stock, assembly lines,…

Q: Why is the population of low- income countries predicted to grow more quickly than the population of…

A: The population rate affects the income per capita GDP. The low-income countries grow differently…

Q: Explain what the human development index is,what it measure and what information reveals

A: Economic growth exhibits the percentage increment in the economy's output per capita over the period…

Q: Why is GDP in developing countries greater than GDP in developed countries?

A: The Gross Domestic Product (GDP) is a widely used indicator of an economy's output or production. It…

Q: What should happen to unemployment rate, Inflation rate and economic growth rate when there is an…

A: Minimum wage rate is the minimum amount of remuneration that an employer can pay to wage earners.…

Q: What is national saving?

A: The circular flow of income is a macroeconomic model that depicts the flow of income and spending…

Q: What GDP and GNP and how the country generate?

A: The standard measure of value-added produced during a certain time by manufacturing goods and…

Q: How does Standard of Living affect Quality of Life in terms of GDP?

A: Gross domestic product (GDP) is the sum of the monetary value of all the final products and services…

Q: Many economists argue that an improvement in technology can increase wage, real interest rate and…

A: Technological improvement can lead to rise in productivity which means rise in supply of goods and…

Q: What is the role of guaranteed income as an instrument for activating domestic economic growth?

A: Meaning of Economic Growth: Economic growth refers to an increase in economic variables over a…

Q: Calculate income if consumption is $120 million and Savings is $66 million

A: The information being provided to us is as follows:- Consumption = $120 million Saving = $66 million…

Q: What is the Demand growth rate?

A: Economic growth can be defined as growth in the output of total goods and services produced in an…

Q: What is the HUMAN DEVELOPMENT INDEX? What does the HUMAN DEVELOPMENT INDEX tell us?

A: The countries around the world tend to focus on enhancing their development and growth. The…

Q: How do you calculate private closed economy GDP?

A: A closed economy represents a market system where no trade with other countries take place.

Q: Does the purchasing power continue to decrease in an inflationary economy?

A: In an economy, purchasing power is an economic term that is used to define the real value of money…

Public Saving

Public saving deals with the amount which has been in excess after meeting all the obligatory expenses and investment of the government. Taxes are collected by the government to meet its day-to-day expenditures. The obligatory expenses include all those expenses which are mandatory for the government. It cannot be avoided as it is inevitable.