Describe inferior goods in economics
Inferior goods in economics: Inferior goods refer to such goods whose demand reduces with the rise in income of consumer.
By the perspective of society as an entire, in that case land resources are: (w) variable in supply. (x) perfectly elastically supplied. (y) the closest of all resources to generators of pure economic rents. (z) increased through cultivating previousl
Financial markets are markets in that funds are transferred from: (w) financial investors or institutions which have an excess of available funds to people or firms which have a shortage. (x) people who have a shortage of obtainable funds to people wh
At point c, in illustrated figure the supply curve into this graph is: (w) perfectly price elastic. (x) relatively price elastic. (y) unitarily price elastic. (z) relatively inelastic. Q : Implications of law of demand what are what are the implications of law of demand to the government,household and business
what are the implications of law of demand to the government,household and business
The incentive to work and earn income is possible to be greatest when the fundamental welfare benefit is ____ and the fundamental welfare benefit is reduced through ____ that the person earns: (w) high, the amount (x) low, the amount
When households become increasingly willing to defer current consumption in order that they can enjoy greater future consumption, in that case the: (1) interest rate rises. (2) equilibrium investment level rises. (3) present value of
Provide solution of this question. Supposing no other changes, if balances in small time deposits increase by $30 billion and money market mutual funds held by businesses decrease by $30 billion, the: A) M1 and M2 money supplies will not change. B) M2 and MZM money su
Explaining the poverty line by the income needed to maintain a specified standard of living is: (w) a positive poverty standard. (x) a relative poverty standard. (y) a normative poverty standard. (z) an absolute poverty standard. Q : Relationship between MC and ATC What What happens to ATC if MC < ATC? Answer: ATC will down or fall.
What happens to ATC if MC < ATC? Answer: ATC will down or fall.
Increases within market interest rates are probably to be related with: (1) people’s increasing desires for vast “nest eggs” for security while they retire. (2) bursting a speculative bubble into prices for hi-tech stocks. (3) increa
18,76,764
1961161 Asked
3,689
Active Tutors
1437419
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!