Ask an Economic Question

You are welcome to ask any questions on Economics. Though you might also like to try google custom search (top right) to see if the topic has been covered before.

I am looking to explain economic principles / ideas/ recent developments in economics. I can’t promise to answer, but will try if it meets the criteria below.

  • Please don’t ask me to do your coursework / assignment e.t.c. (I can usually tell if it is a homework question!)
  • Please don’t ask any maths calculations.
  • The question and answer will be published here where everyone can see it (including your teacher!)
  • I aim to try and simplify economics; as a rough guide I would aim at an understanding similar to a good British A Level student.
  • I am looking to explain economic principles / ideas/ recent developments in economics.
  •  I will answer as a new post, if you leave email address, I’ll usually send quick email. Check home page of blog for new post. With question and answers

Add comment at bottom of post.


2,188 thoughts on “Ask an Economic Question”

  1. Suppose a proposed new road to be constructed in north Carolina between Raleigh and Morehead City will lower the average cost per trip by car from $5 to$4. Currently 500,000 trips are made between the two cities per year. An estimate indicates that, all other things being equal, the new road will increase the number of trips per year to 600,000. Calculate the annual benefits to motorists of the new road as based on their willingness to pay. Plz tell me the answer of this question.

    • the balance of payment is a systematic record of all international legal economic transactions that have been taking place between the residence of the reporting country and the residence of the other country.
      this explains about how much the is being spent by consumers and frims on imported goods and services. and how successful firms have been in exporting to other countries.

  2. Hello, firstly thank you for providing us with this useful resource.

    My question is MC=MR is the profit maximization condition. But what happens if there are no costs?

  3. Hi, if a saver has $50,000 in a bank and QE was started at a very amount, would it be better to buy gold instead?

  4. Thank you for your prompt response.

    Could a constrain in firm capacity to take on extra employees cause for the demand for labour to not adjust (upwards) immediately?

    i.e. a lagged response in the upward adjustment in labour demanded.

  5. Is there a difference between foreign liabilites (which are used to calculate the net international investment position of a country) and the external debt of a country????? I thought they are synonyms but I am finding different values for the two.
    Thank you in advance!


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