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I studied PPE at Lady Margaret Hall college, Oxford University, and currently work as an Economics A Level teacher. I have also examined several different economic units for Edexcel AS and A2.
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Hello,
My question is
The relationship between GDP and economic welfare.
Thanks.
Hello,
If anyone can help on this question I will greatly appreciate it.
There’s a full employment economy where the government wishes to increase the level of expenditures. The government chooses to finance these expenditures by increasing the supply from $200 billion to $400 billion. Further assume that the short run velocity of money is constant.
a. what equation could you use to analyze this situation?
b. What should happen to the level of prices in this particular economy?
*I’m not just seeking a answer, I will like to know how to approach this situation. If anyone can help I will be very relieved.
Thank you.
In several countries there has been increasing pressure for protectionist policies. Evaluate the likely economic effects of an increase in protectionism by the EU.
in long run equilibrium, firm in a competitive industry earns zero economic profit, if price falls industry will fall, discuss
Hi Easy Eric
Free goods are that are not scared like air which does not have any
Opportunity cost. At your point of view of freely available information on internet may be said free goods because if you use it it will not decrease its value . Others can use it. Although it is not completely free good because this may also little effect on other users like more load on site slow service of site etc
Many resources are also used to create this information.
You can call it free good but not free like air , sun light etc
thanks
Hi Izzy
AD-AS model does not recommend to increase taxes or decrease govt spending. AD-AS model recommends to decrease tax . If tax rates are decreased than AD will increase .This will increase gdp growth and national income and as result income of govt will also increase
Govt spending and Tax decreasing shift the aggregate demand curve to right.
This increases gdp growth and income of govt.