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8780701
Econs 1987
Descripción
I love Econs
Sin etiquetas
allocation of scarce ressources
Test por
Courage Chidi
, actualizado hace más de 1 año
Más
Menos
Creado por
Courage Chidi
hace alrededor de 7 años
3
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Resumen del Recurso
Pregunta 1
Pregunta
Price can be defined as
Respuesta
A rate of exchange
The cost of a product
The standard of accounting
A medium of exchange
Pregunta 2
Pregunta
A shift of the demand curve when supply curve is vertical will lead to à change in
Respuesta
Price only
quantity only
price and quantity only
quality only
Pregunta 3
Pregunta
If a good is an inferior good then
Respuesta
The income elasticity of demand is negative.
It is a giffen good
the poor but It only out of habit.
It varies inversely with price.
Pregunta 4
Pregunta
An increase in supply will lower price unless
Respuesta
It is followed by an increase in demand
demand is highly inelastic
demand is perfectly elastic
supply is perfectly inelastic
Pregunta 5
Pregunta
Which form of market is found in an imperfect competition where there are few buyers and many sellers
Respuesta
Oligopsony
Oligopoly
Monopoly
Duopoly
Pregunta 6
Pregunta
The liability of the sole trader is
Respuesta
Unlimited
limited
transferable
indeterminable
Pregunta 7
Pregunta
Which of the following is a disadvantage of Regional concentration of industries
Respuesta
Development of Congested urban areas
High cost of labour
Immobility of labour
existence of Regional unemployment
Pregunta 8
Pregunta
Economic development is defined as
Respuesta
positive change plus growth
availability of more goods and services
outward shift of the PPC
growth in national income
Pregunta 9
Pregunta
For improvement in welfare,production is not enough because?
Respuesta
Equitable distribution is necessary
production efficiency is vital
the Have-mots deserve more than a fait share.
savings must be granted at more than 50 percent income earned
Pregunta 10
Pregunta
The difference between personal income and personal disposable income is
Respuesta
Personal income tax
investment income
personal savings
Consumption expenditure
Pregunta 11
Pregunta
Frictional unemployment means
Respuesta
occurs when people are changing jobs
Occurs when the number of job seekers exceeds the number of vacancies
Is total employment minus structural unemployment
Pregunta 12
Pregunta
Transfer payments are ?
Respuesta
Unearned income
transfer earings
payment transferred from one account to another
Money from one country to another
Pregunta 13
Pregunta
Statistical analyses suggests that?
Respuesta
The MPS is High
The MPC is High
consumption pattern is negative
perfect correlation Between consumption and savings
Pregunta 14
Pregunta
Advalorem tax means?
Respuesta
A percentage tax base on the value of the commodity
a tax on the income of the consumer
Payment of a tax on the profit made
tax on the volume
Pregunta 15
Pregunta
The rate of exchange between domestic and a foreign currency is defined as the?
Respuesta
Domestic currency price of a unit of the foreign currency
foreign currency price of gold
Domestic currency price of gold
terms of trade
Pregunta 16
Pregunta
If inflation continues
Respuesta
lenders will demand higher interest rates.
people would want to gold money
people will want to gold more money.
the growth of full employment will be acellerated
Pregunta 17
Pregunta
In the keynesian model?
Respuesta
Demand for money is Inversely related to the rate of interest.
investment is directly related to the rate of interest
investment is not related to the ratio of interest
the demand for money is directly related to interest rate.
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