Question on Federal Reserve
Choose the right answer from following. How many members the Board of Governors of the Federal Reserve has ? A) 5 B) 7 C) 9 D) 14
The profit-maximizing price for copyrighted smash-hit St. Valentine’s Day software of Prohibition Corporation is: (i) $12 per copy. (ii) $20 per copy. (iii) $24 per copy. (iv) $32 per copy. (v) $40 per copy. <
Increasing the price of a product definitely raises total revenue when the elasticity of demand is as: (w) infinity. (x) unitary. (y) relatively elastic. (z) relatively inelastic.
What happens to ATC if MC < ATC? Answer: ATC will down or fall.
Elucidate the Primary functions of money. Answer: Primary functions: 1) Medium of Exc
When, relative to most another forms of business, farm incomes are tiny in comparison to farmers’ net wealth, in that case: (w) rates of return in agriculture are below those from other investments. (x) agriculture generates pos
Each and every profit-maximizing firm which can cover its variable costs will hire the labor: (1) Just to the point of the diminishing returns. (2) Just to the point where MRP = ARP for the final worker hired. (3) Beyond the point of the diminishing r
The people who anticipate prices to increase soon will tend to rise their: (i) Current demands for the durable goods. (ii) Waiting time prior to buying. (iii) Saving as a result they can afford higher prices. (iv) Current supplies.
Illustrate and explain using diagrams, the difference between long run supply in a constant cost individual firm and industry and an increasing cost firm and industry.
Whenever the market for the good is in equilibrium, this signifies that the: (i) Demand and supply are equivalent. (ii) Tax wedge is perfectly offset by the government advantages. (iii) Differences among demand prices and supply prices equivalent profit per unit. (iv)
Economic theories: A) are useless because they are not based on laboratory experimentation. B) that are true for individual economic units are never true for the economy as a whole. C) are generalizations based on a careful observation of facts. D) are abstractions an
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