What is the shifting in budget line?
The budget line will shift when there is: A change in the prices of one or both products with nominal income (budget) remaining the same. A change in the ...
What was the key to economic success?
A market economy, perhaps with a substantial role for government, appears to be one key to economic growth. A system in which laws and property rights are...
What is economic crisis in simple words?
An economic crisis is a situation in which a country’s economy deteriorates significantly. During the crisis, GDP is typically declining, liquidity dries ...
Which statement describes the substitution effect?
The correct answer is: “As the price of a good rises, people will substitute other products”. The substitution effect (SE) is derived from a product’s pri...
What industries were affected by NAFTA?
NAFTA eliminated most tariffs on products traded between the three countries, with a major focus on liberalizing trade in agriculture, textiles, and autom...
What technology was used in the First World War?
Airplanes and submarines were used for the first time, initially to locate the enemy. Field telephones and sound equipment was also used to find the enemy...
Does Oregon qualify for low income housing?
For Portland, the United States Department of Housing and Urban Development requirement to be considered low income in 2018 for a one-person family is $45...
What percent of the US is 1 million people?
A new survey has found that there are 13.61 million households that have a net worth of $1 million or more, not including the value of their primary resid...
When there is a decrease in demand for a product?
Ans: If there is a decrease in demand with a given supply curve, there will be excess supply in the market. Due to Excess supply price of the product will...
How is the South African government addressing the problem of poverty?
Programmes that will lessen poverty in the long term include: education and capacity development, land redistribution, promoting economic development and ...
