Indian Economy Questions

For each perfectly competitive firm in the long run

A ceramic pottery unit hires 8 craftsmen by paying each of them Rs 900 per day. The 9th craftsman demands Rs 950 per day. If this craftsman is hired then all other craftsmen must be paid Rs 950. The marginal resource (labour) cost of the 9th craftsman is _________.

_______________________ is the unemployment which exists in any economy due to people being in the process of moving from one job to another.

Stagflation exists when _____

If for the year a country's GDP was $990 million, consumer spending was $630 million, investment by businesses was $110 million, exports were $55 million and imports were $45 million, calculate government spending?

Stagflation is defined as

Bilateral monopoly situation is

___________ is an alternative way of representing the production function.