Question
Solution
All the elements together move one space to the right in each step and once they reach the rightmost position, then in the next step, they move to the leftmost position. Also, in the first step, the first (uppermost) and the third elements interchange positions; in the second step, the second and the fourth elements interchange positions and in the third step, none of the elements interchange positions. These three steps are repeated to continue the series.
Which method is used by Hicks to eliminate the income effect when price of a product is changed
In an open economy, ceteris paribus, If the marginal propensity to import increases, what will be the impact on Income Multiplier?
Calculate Domestic Income: