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Microeconomics and Macroeconomics: Introduction
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Demand and Law of Demand
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Theory of Consumer Behaviour
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Elasticity of Demand
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Supply
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Market Mechanism
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Laws of Returns
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Cost and Revenue Analysis
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Forms of Market
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Producer's Equilibrium
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Determination of Equilibrium Price and Output Under Perfect Competition
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Theory of Income and Employment
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Money: Meaning and Functions
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Banks: Commercial Banks and Central Bank
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Balance of Payment
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Fiscal Policy
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Government Budget
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National Income and Circular Flow of Income
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National Income Aggregates
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Measurement of National Income
Basic Model of Income Determination
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Q1
By propensity to save we mean the
Marks:1View AnswerAnswer:
relation between income and saving.
Explanation:
There is direct relation between income and savings. When income increases the rate of savings also increases and vice-versa.
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Q2
The relationship between MPC and MPS is that
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MPC + MPS = 1
Explanation:
MPS + MPC = 1 -
Q3
By consumption function we mean the
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relation between consumption and income.
Explanation:
The relationship between consumption and income is called Propensity to consume or consumption function C = f ( y ). -
Q4
Net Export is a component of
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Aggregate Demand.
Explanation:
Aggregate demand is the total of consumption expenditure plus government expenditure plus investment expenditure plus net exports. -
Q5
Aggregate demand is defined as the
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total demand of goods and services.
Explanation:
Aggregate demand is total demand for goods and services in an economy during a particular year.
