Leftward shift of PPC
What does leftward shift of PPC point out? Answer: It points out underutilization of resources.
What does leftward shift of PPC point out?
Answer: It points out underutilization of resources.
Give the answer of following question. Economic growth is best defined as an increase in: A) either real GDP or real GDP per capita. B) nominal GDP. C) total consumption expenditures. D) wealth in the economy.
When a monopolist which does not price discriminate produces output where is demand is unitarily elastic, in that case the firm will: (i) never be capable to maximize profit. (ii) maximize profit only when all costs are fixed. (iii) maximize profit wh
The objective of a cartel is to: (w) permit every member firm to maximize profit. (x) foster competition among sellers. (y) enhance efficiency and lower prices to consumers by eliminating several wasteful forms of competition. (z) maximize the joint p
An interest rate of 10 percent causes the present value of $1000 acquired one year by now to be: (w) $1000. (x) $1,100. (y) $909.09. (z) $100. Hey friends please give your opinion for the problem of Economi
Which of the given lists of taxes or taxed goods is possibly in correct order by most backward-shifted to most forward-shifted: (1) Tobacco, property, payroll, general sales. (2) Land, payroll, property, tobacco. (3) Tobacco, payroll,
The contracts needing employment after some worker’s jobs have been made obsolete through automation are illustrations of: (i) Blacklisting. (ii) Labor-reducing protectionism. (iii) Check-off provisions. (iv) Yellow dog contracts. (v) Feather-bedding.
Raising the severity and certainty of punishment decreases the cheating on examinations. This statement imitates: (1) Misplaced cynicism as this issue is ethical, not economic. (2) Purely normative views of the behavior. (3) Unrealistic expectations regarding student
Long run for the production theory is a time period across which: (i) All production occurs. (ii) Firms can adjust all their costs and resources. (iii) Bigger firms absorb the smaller firms. (iv) Marginal costs become decreasingly significant. (iv) Im
One of the reasons for positive relationship among relative price and quantity supplied is the: (1) Technology effect, whereby bigger firms generate at lower average costs than the smaller firms. (2) Substitution effect, whereby firms switch among for
Describe the Reallocation of resources objective of the government budget.
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