According to Mercantilists, trade is a :
There is incomplete specialization in production when country faces :
Answer: increasing opportunity costs
Income tax is generally based on the principle of :
Answer:Ability to pay principle
Which method can help in obtaining a welfare improvement if externalities exist ?
Which of the following is a capital receipts in the Government budget ?
Answer: Borrowings of the government from the public
Which amongst the following would be most effective in mitigating the effect of externalities ?
Maximum social advantage is achieved when :
Answer:Total Social Sacrifice=Total Social Benefits
Statutory incidence of a tax deals with :
Answer: the person(s) legally responsible for paying the tax.
The relationship described by the Expectations - Augmented Phillips curve is correct in which of the following ?
Answer:Only in the long run.
Non Accelerating Inflation Rate of Unemployment (NAIRU) means :
Answer:a rate of unemployment for which the change in the rate of inflation is zero.
New Keynesians use which of the following to explain price and wage stickyness ?
For the capitalist economy, the primary objective of the New Classical Economics is to explain which of the following ?
Answer: Business cycle phenomenon
Which of the following growth model(s) assume(s) Neutral Technical Progress ?
In an economy, the GDP deflator is found to be 110 for the current year. If the GDP has registered an annual growth rate of 15 percent in the same year, then, the rate of growths of real GDP will be :
What is the nature of equilibrium in the IS - LM model ?
Answer:Stock and flow equilibrium