In economics, explain the term "economies of scale". a. What is the definition of a real (non-pecuniary) externality? b. What is the definition of a pecuniary externality? What is the definition of multiplier (m) in macroeconomics?
Explain the term "enterprise" as it relates to business and economics. Explain what is a multiplier in economics. In terms of microeconomics, what is a simple definition of Net Economic Value? Define the term "fiscal profit" as applied and used in economics. ...
Define Economics of Scale, and give two reasons why a firm may experience economics of scale. What is the multiplier effect in economics? Explain the term microeconomics. How does price floor affect the Market when economic crisis hits? Explain with economic concepts. ...
Why is the aggregate demand curve downsloping? Specify how your explanation differs from the explanation for the downsloping demand curve for a single product. What role does the multiplier play in shifts of the aggregate demand curve? Explain economic fluctuations, and how...
Mathematically, the value of the expenditure multiplier in terms of the marginal propensity to consume (MPC) is given by which formula? A) MPC - 1 B) (MPC - 1)/MPC C) 1/MPC D) 1/(1 - MPC) How is the marginal propensity to consume related to the multiplier concept?
Describe the impact on changes in foreign exchange rates affect profitability of financial institutions. Explain the sunk cost in economics and how does it affect a person's life. Explain the concept of the multiplier effect. Describe and provide examples of even...
Define multiplier effects, based on Keynesian Fiscal policy. Imagine conducting an experiment to examine the effect of generous role models on children's willingness to share toys with another child. Explain how to use (a) simple random assignment and (b)...
consumers from one country with a pool of products and services to choose from. These products could be cheaper when imported than when bought from local industries, or they are unavailable in their home country. Besides, international trade has been made possible by the eradication of tradin...
What role does the multiplier play in shifts of the aggregate demand curve? Describe the following terms: Supply and demand. Define and give an example of application of concept of income elasticity of demand. If aggregate supply is more than aggregate demand, what will be the ...