Define budget line
Budget line: Budget line exhibits all combinations of two goods which a consumer can purchase with his income at a specified price.
Rising economic profits within a competitive market do NOT produce pressures for: (i) expansions of existing firms. (ii) entry by new firms. (iii) price hikes. (iv) increases in costs for specialized resources. (v) ultimate erosion of
When Info-Gadget and Inc. offers only 333 thousand generic potato peelers monthly at $1 each as well as 1,667 thousand at $2 each, its price elasticity of supply is around: (1) 1.0. (2) 1.5. (3) 2.0. (4) 3.0. (5) 0.5. Q : Normal profit Normal profit signifies Normal profit signifies zero economic profit. Explain why?
Normal profit signifies zero economic profit. Explain why?
The first plans of savers and investors within this closed private economy are demonstrated as S0 and I0. Assume that people begin spending less on current consumption, and total saving plans shift to curve S
Describe the steps taken in estimating N.I. by product/ value added technique? Answer: A) Classify all production units: Locate
Who decides what goods services will be produced and were sold in the US?
The word “public sector” signifies to: (1) Stockholders and households. (2) Investors and Consumers. (3) Households and investors. (4) Democratic voting systems. (5) All actions of government. Hey frien
what is the Production possibility frontier
If the demand for a good is price elastic, in that case the percentage change in quantity demanded into response to a specified change within price is: (1) greater than the percentage change in price. (2) positively related to the cha
When the price of a financial asset is of $2,000 and the interest rate is 10 percent, in that case investment is not reasonable for: (1) a perpetuity paying $200 annually. (2) an income stream paying $1000, $800, and $600, respectivel
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