18th January 2021
Closed and open economy Models
Closed economy Models A closed economy is a country that does not import or export. A closed economy sees itself…
Study BBA, BMS, B.Com Syllabus wise Notes
Closed economy Models A closed economy is a country that does not import or export. A closed economy sees itself…
The gross national income (GNI), previously known as gross national product (GNP), is the total domestic and foreign output claimed…
In economics, the consumption function describes a relationship between consumption and disposable income. The concept is believed to have been…
The Keynesian Multiplier is an economic theory that asserts that an increase in private consumption expenditure, investment expenditure, or net…
Net National Product is the market value of all final goods and services after allowing for depreciation. It is also…
Economic Welfare Before knowing the relation between economic welfare and national income, it is essential to define economic welfare. ‘Welfare’…
The Principle of Effective Demand is John Maynard Keynes’s book The General Theory of Employment, Interest and Money. The principle…
Supply and demand may fluctuate for a number of reasons, and this in turn may affect the level of output.…
The AD–AS or aggregate demand–aggregate supply model is a macroeconomic model that explains price level and output through the relationship…
National income is the value of the aggregate output of the different sectors during a certain time period. In other…