Macroeconomics Meaning, Scope and Importance
The term ‘macro’ was first used in economics by Ragner Frisch in 1933. But as a methodological approach to economic…
Read BBA, BMS, B.Com Syllabus wise Notes
The term ‘macro’ was first used in economics by Ragner Frisch in 1933. But as a methodological approach to economic…
The national income and national product accounts of a country describe the economic performance or production performance of a country.…
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.…