Question on economic cost
Select the right answer of the question. Which of the following is not an economic cost? A) wages. B) rents. C) economic profits. D) normal profits.
Differences among the opportunity cost of a purchase through a consumer and the seller’s price are increased through: (w) taxes. (x) intermediaries. (y) competition. (z) speculators. Can anyb
The Organization of Petroleum Exporting Countries (OPEC) is an illustration of: (w) a monopoly. (x) monopolistic competition. (y) a cartel. (z) decentralized communism. Can someone explain/help me with best solution about problem o
The central bank performs as lender of last resort. Explain how? Answer: The central bank too acts as lender of last resort for other banks of the country. This mea
I have a problem in economics on Division of Labor. Please help me in determining the right answer from the following question. Shannon brewing an espresso drinks whereas Kelly bakes the croissants at their coffee shop are an illustration of: (i) Comp
The special characteristic of firms within an oligopoly NOT determined in other market structures is: (i) homogeneity of product. (ii) interdependence that is mutually recognized. (iii) restricted entry. (iv) a high degree of market power. (v) perfect
Bank rate: This is the rate of interest at which central bank provides loan and advance to commercial banks.
Elucidate briefly business cycles and what role do the Federal Government and Federal Reserve has in trying to manage them?
Since this demand curve for DVD games is a straight line, and its slope: (w) is constant, although the absolute value of price elasticity of demand falls as output increases. (x) varies to compensate for changes within elasticity. (y) is constant, alt
The present value of an annual income stream which goes onto forever is: (w) infinite. (x) zero. (y) the annual income multiplied through the interest rate. (z) the annual income divided through the interest rate.
Describe the role of given in correcting deflationary gap in an economy. A) Govt. ExpenditureB) Legal Reserve Ratio
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