Problem of what to produce
Describe the problem of What to produce?
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The economy can generate various possible combinations of goods & services with specified reasources. The problem is that, out of such various combinations, which combination is generated. When production of one good rises then less resources will be obtainable for other goods.
The difference among the value of marginal product of the labor and average wage rate will tend to be maximum when a firm: (i) Joins significant market power in output market and monopsony power in the labor market, however does not wage discriminate. (ii) Is a pure c
Can someone please help me in finding out the accurate answer from the following question. The value of marginal product of the variable resource is its marginal product multiplied by: (1) The marginal revenue from sale of its addition to the output. (2) The price of
Buying low within one market and riskless selling at a higher price into another is termed as: (1) speculation. (2) arbitrage. (3) capitalization. (4) marketeering. (5) profiteering. Please choose the right answer from above...I wa
The War in Iraq contributed to sharp rises in the world price of oil. This is most probable to encompass caused the demand for car washes in United States to: (1) Shift towards right. (2) Increase vertically. (3) Stabilize. (4) Shift towards left. (5) Much more inform
Negative income tax proposals call for: (w) paying $1 in taxes on every dollar of transfer payments. (x) reducing welfare benefits by levying higher income taxes. (y) instituting consistent work incentives for welfare recipients. (z) establishing a ne
Who decides what goods services will be produced and were sold in the US?
When the preference for current consumption over future consumption weakens, in that case the: (w) interest rate rises. (x) interest rate falls. (y) present value of future income falls. (z) equilibrium level of investment falls.
Examine within your answer the circumstances that will enable a company to pass on cost increases to customers and protect profit margins. For example- price sensitivity of demand, rising food prices, cotton prices, etc.
Assume nominal GDP in the year of 2002 was $100 billion and in the year of 2003 it was $260 billion. The general price index in 2002 was 100 and in 2003 it was 180. Between 2002 and 2003 the real GDP rose by: A) 160 percent. B) 44 percent. C) 37 percent. D) 1
One political benefit of the market system over the majority of other economic systems is that: (1) The power to take decisions is comparatively decentralized. (2) Democratic decisions are steadier than individual selections (3) Centralized decisions
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