1. a large number of buyers and sellers
2. an identical or a homogeneous product
Answer:
c. wages may stay at above-equilibrium levels for an extended period of time, thus keeping unemployment high.
Explanation:
Sticky wage theory -
According to this theory , the payment of the employees have a slow response for the change in the performance of the company or the economy .
From this theory , as the unemployment increases , the wages of the employed candidates tends to remain same or increases very slowly due to to decrease in the demand of the labor .
In this case , the wages are sticky - down , as they move up easily but get down with difficulty .
Answer:
True
Explanation:
For a stock to be in equilibrium, two conditions are necessary:
(1) The stock's market price must equal its intrinsic value as seen by the marginal investor;
(2) the expected return as seen by the marginal investor must equal his or her required return.
Answer:
c) the condition subsequent has occurred;
Explanation:
Since in the question it is given that the John and his wife Martha get a divorce and according to the divorce settlement contract she agrees to pay the alimony to John for $5,000 per month for his lifetime or until that time when he should remarry
If John remarries after three years, so the alimony benefits is ceased because the subsequent condition has occurred due to which he will not get the amount further in the future
Answer:
Correct option is (d)
Explanation:
Welfare economics deals with the study of distribution of resources affect the overall welfare of the society and economy as a whole.
It is a part of economics that studies the role of government in aligning policies for the welfare of the society and ensuring that every section of the society is equally developed.
The concept was developed as inequality in distribution of wealth and resources was observed across different sections of the economy. Poor was becoming poorer and rich, becoming richer. This hampered overall growth of the economy, thereby giving birth to welfare economics.
