What factors can affect wages?
Following factors influence the determination of wage rate: Ability to Pay: ADVERTISEMENTS: Demand and Supply: Prevailing Market Rates: Cost of Living: Ba...
Category: General
What was the economy and trade like in Athenian society?
Athenian economy depended on trade. Athens was nearby the sea and was therefore able to trade with other city-states and foreign lands. They traded: honey...
What are two economic variables?
Like demand and price, consumer spending and GDP are examples of positively correlated variables where movement by one variable causes movement by the oth...
Why fiscal policy has a shorter time lag?
For fiscal policy, the impact lag may be shorter, since government agencies simply need to spend additional funds, or tax cuts appear in people’s pay chec...
What is primary deficit India?
Primary deficit is the difference between the fiscal deficit of the current year and the interest paid by the government on loans obtained in the past. Wh...
How did the Dust Bowl impact the economy?
Prices paid for crops dropped sharply and farmers fell into debt. In 1929 the average annual income for an American family was $750, but for farm families...
What is the goal of business owners in our economy quizlet?
What is the goal of business owners in a market economy? More buyers willing to pay a higher price; the ultimate goal is to make as much money as possible...
Was there a financial crisis in 2007?
The global financial crisis that hit in 2007 was the most serious economic shock since the Wall Street Crash of 1929. It led to a severe recession in the ...
How do shopping malls help the economy?
The employment generated by shopping centres increases the level of income per capita in the local community which has a ripple effect on consumption (con...
Why would such economic diversity be beneficial?
One of the top benefits of a diversified economy is that it is flexible and not fixed. This helps protect the economic viability of other industries and p...
