Define normal goods
Normal goods: Normal goods are such goods whose demand increases with the increase in income of consumer.
Define monetary policy? What monetary measure can be accepted to control the condition of excess demand? It is the policy accepted by central bank exercising control over money rate of interest and credit situatio
The supply curve for perishable goods which, once produced, can’t be stored in inventory is generally functioned as perfectly price inelastic into the: (i) short-run. (ii) intermediate period. (iii) long-run. (iv) market period. (v) fiscal year
When leisure is a normal good, then the demand for leisure: (i) Differs directly with the income. (ii) Has declined sharply as World War II. (iii) Is positively associated to the average age of population. (iii) Shifts left-ward as an outcome of technological advances
Imperfect data: Most studies start with imperfect data. Few datasets involve the entire population of interest. Typically, the data has been gathered by others for specific purposes, and as such may have built in b
When firms exit a declining competitive industry, in that case surviving firms will: (i) reduce their outputs and prices. (ii) experience higher prices and profits. (iii) automate to adjust to lower wages. (iv) sell more output at lower prices. <
Sustained rates of economic development which exceeded population growth rates would: (w) raise the incomes of the poor without reducing anybody else’s income. (x) raise the incomes of everyone in society. (y) boost the incomes of the poor only
Write down the differentiations between monopoly competition and perfect competition?
The global wide demand for bicycles would be least probable to be influenced if: (1) Rises in incomes in less developed countries permitted a lot of people to purchase automobiles. (2) Couch-potatoes start heeding their doctor’s suggestion to ex
Can someone please help me in finding out the accurate answer from the following question. Even a moderate minimum wage law influences labor markets by causing the unemployment of: (1) Unskilled workers when the labor market is per
Movie producers A, B, and C secretly meet and agree to release their summer blockbuster films in sequence, rather than at the same time. The U.S. Justice Department learns of the agreement and files an antitrust suit. The Federal government would most likely file ch
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