The market system
1. Examples of command economies are: A. The United States and Japan. B. Sweden and Norway. C. Mexico and Brazil. D. Cuba and North Korea.
What is Demand schedule and how it is associated to demand curve?
A family’s newly constructed home can produce the service of shelter across several years, therefore from a macroeconomic perspective, this is most reasonably classified as: (i) economic capital. (ii) social infrastructure. (iii) market capitalization. (iv) a fi
Firms which serve customers who vision the firm’s output as perfectly substitutable for the outcomes of huge numbers of other firms confront: (i) Horizontal (that is, perfectly price elastic) demand curves. (ii) Predatory pricing from greater mo
Define the term Supply curve.
Why the value of MPC is not greater than 1? Answer: This is because change in consumption can never be more than change in income.
What happens when AD > AS past to full employment level of employment?
Explain the concept of “economies of scale” and “increasing returns”.
Why is tax considered as revenue receipt? Answer: Since tax neither makes a liability for government nor decreases assets of the government.
A country’s balance of trade is Rs. 75 crores. The value of imports of goods is Rs. 100 crores. What is the value of exports of goods?
If the MPC is .70 and investment increases by $3 billion, the equilibrium GDP will:
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