Money functions
Give me answer of this question. Money functions as: A) a store of value. B) a unit of account. C) a medium of exchange. D) all of the above.
You regularly buy artichokes that happen to be perfectly elastically supplied within the long run. Therefore government imposes a tax upon artichokes. Then the tax is eventually borne by: (w) retailers. (x) consumers. (y) consumers and artichoke farme
The personal supply of labor is characterized by the income effect which dominates the substitution effect if: (1) Trina retires to beach condo subsequent to working for the city for 42-years. (2) Members of a rock band give up touring for a year subsequent to their s
The demand for authentic leather footballs would tend to rise if: (1) Prices for football pads and cleats reduced. (2) Cheap footballs recently molded from the synthetic fibers demonstrated enhanced durability and performance. (3) Latest records were set for injuries
Production possibility curve or PPC: PPC exhibits different combination of a pair of goods, that can be produced with the given resources and method of production, that are fully and proficiently utilized.
If this illustrated figure given Lorenz curves for distribution of income after taxes and transfers, the probably short run effects of 10 percent increases within both income tax rates and government transfer
I have a problem in economics on Supply of curve in the short run. Please help me in the following question. The supply curve of milk would shift in the short-run in response to the modification in: (i) Price of the milk. (ii) Demand for the milk. (iii) Numbers and si
All transaction costs would be zero when: (1) Congress required current prices to be cut by eighteen percent. (2) market information and transportation were both costless. (3) market prices were legally restricted to production costs. (4) inflation we
In which market form, the firm is a price taker? Answer: In Perfect competition
For a specified distribution of income within a purely competitive economy, marginal social benefit will the same marginal social cost unless: (w) “hit and run” entrepreneurs prosper. (x) economic profits
Joseph A. Schumpeter popularized and refined the concept that profits: (i) ultimately derive primarily from innovation. (ii) are necessary compensation to entrepreneurs for bearing uncertainty. (iii) are reduced by bureaucratic inefficiencies in firms
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