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Author: EconomicsLive

The theory of Big Push was developed by a notable economist Rosenstien Rodan in his pioneering work notes on the theory of Big Push. As a strategy to emancipate to less developed countries form the clutches of vicious circle of poverty. The theory underlines the fact that in underdeveloped countries there is the chronic problem of …

Show that the rate of change of marginal utility of commodity with respect to y is equal to the rate of change of marginal utility of commodity with respect to x, where function is given by . The production function of a firm is given as . Find the marginal productivities of labour (L) and capital …

The capital market is the market for medium and long term funds. The demand for long term funds comes from industry, agriculture and government. The supply of funds comes largely from individual savers, corporate savings, banks, insurance companies, financial institutions and government. Government Securities Market These securities are issued by government, thus it consists no risk. …

The financial system helps production, capital accumulation and growth by Encouraging savings Mobilising them Allocating them among alternative uses and users. Each of these functions is important and the efficiency of a given financial system depends on how well it performs each of these functions. Inducement to save : the financial system promotes savings by providing …

Money Money is anything that is generally acceptable as a means of payment in the settlement of all transactions, including debt. It is the commonly used medium of exchange or means of transferring purchasing power. General acceptability as a means of payment or as a medium of exchange is the unique feature of money. This makes …

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Small Sample properties Unbiased Estimator : Biased means the difference of true value of parameter and value of estimator. When the difference becomes zero then it is called unbiased estimator. i.e., Best Estimator : An estimator is called best when value of its variance is smaller than variance is best. i.e . Where is another estimator. Efficient Estimator : …

Given the assumptions of the classical linear regression model, the least-squares estimators, in the class of unbiased linear estimators, have minimum variance, that is, they are BLUE. In other words Gauss-Markov theorem holds the properties of Best Linear Unbiased Estimators. Following are some of the assumptions which should be taken into consideration for the mathematical derivation …

The expected value, or mean, of a random variable is a measure of the central location for the random variable. The formula for the expected value of a discrete random variable X follows. Expected value of a discrete random variable X can be written as i.e., Properties of Mathematical Expectations 1. The expected value of constant …

Basic competitive models gives an answer of the control problems of an economy i.e., who makes the decision of what to produce, how to produce and for whom to produce. We know that, economics has been evolved and developed in the framework of a free market economy in which the resources of the society are owned …