ECO718
Question: The main aim of this study unit is to examine the meaning of and analysis.
Answer: macroeconomics theory
Question: Comparative statics is a method of economic analysis which was first used by the F. Oppenheimer in 1916.
Answer: German economist,
Question: Macro-statics explains the static position of the economy.
Answer: equilibrium
Question: If Y is a function of X and Y increases as X increases, or Y decreases as X decreases, we say that Y is
Answer: an increasing of X.
Question: It should be noted that MPC is always less than unity but greater than
Answer: zero
Question: Disposable Income is the personal income (Y) less Income tax
Answer: personal
Question: Macroeconomics concept was introduced by
Answer: Ragnar Frisch in 1933
Question: In an economy, the higher the level of prices the lower the volume of
Answer: saving
Question: Macroeconomics was brought into prominence through the agitations and questioning of
Answer: John Maynard Keynes
Question: Keynes in his general theory postulated the aggregate current
Answer: disposal income
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