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Recessions bring about an increase in deficits for two reasons; first government receipts go down because unemployed people do not pay taxes, second, government spending increases as benefits increase for unemployed people. Thus increased expenses and decreased income of the government will lead to increase of fiscal deficit.
A perfectly elastic demand curve is
Which of the following is true as per the law of supply?
(1) There is a negative relation between quantity supplied and price
(2) The...
For normal goods, the demand curve has a/an_______ slope.
What is the likely elasticity of supply when the supply curve is a straight line, vertical to the x-axis?
Which of the following is/are constant along a demand curve?
(1) Income of the consumers
(2) Price of related goods
Which of the following is true for income elasticity of demand?
(1) It measures the responsiveness of quantity demanded of a good with respect...