Answers: 1. a) As per Keynesian economics, during a downturn the government spending must be boosted which tends to higher business activity and results in higher level of output. In the process, the consumer disposable income would also increase owing to higher income being generated for the workers and employees on account of increased business activity. This would further translate into increased consumer spending which in turn would lead to...Read More >>
Answer Introduction In the contemporary global economic scenario, the overall welfare of the population as well as the progress as well as overall development of any country considerably depend on the economic aspects and growth in the concerned country. The economic development of a country, on the other hand, substantially depends on the government of the country and its policy frameworks, their implementation and monitoring (Schumpet...Read More >>
Answer: Just as it has been indicated in the article, it is the human nature to try and avoid any undertakes that looks risky or else that can lead to loses instead of profits. So, the same case applies to this scenario equally. If the asset is perceived to be risky, then people will be highly suspicious to engage in any exchange that relates to such an asset. As a result, its demand in the market will definitely be low. The key factor behind...Read More >>
Answer: 1. The idea of own price elasticity Ed = , helps to detect the responsiveness of quantity demanded to the changes in price and also makes us aware of whether the demand is elastic (e>1), inelastic (e<1) or unitary elastic (e=1). The elasticity of different food category clearly reveals that people crave for unhealthy foods like sweets and sugar based snacks as they have lower elasticity reflecting inelastic demand. That is ...Read More >>
Answers: 1: Own price elasticity can be defined by, Which reflects the responsiveness of quantity demanded to change in its price and help sto detect which is elastic or inelastic demand? From the own price elasticity data of different food category it can be seen that the low calorie segments of sweet and sugary snacks as well as dairy product have lower elasticity than the higher calorie one. For necessary goods like fruits an...Read More >>
Answer: Introduction Financial crisis is a situation which is outcome of several factors, it mainly shows huge loss that is faced by an economy or country. The global financial crisis of 2007 to 2008 is marked as one of the contraction period of the world and this situation affected many countries. The main reasons behind any financial crisis are crashes of stock market, bursting of financial bubbles, devaluation of currencies and credit defa...Read More >>
Answer: Introduction The period from 2007 to 2008 marked as the period of Financial Crisis and is considered as first contraction of global economy after the period of Second World War (Aguiar, Hurst and Karabarbounis, 2013). Many economies were affected by this Financial Crisis and sluggish recovery was observed subsequently (Lo and Rogoff, 2015. This recession period was observed to be different from prior recessions, since it marked simult...Read More >>
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