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When a typical firm in a perfectly competitive industry is earning profits, in that case: w) all firms will carry on earning profits. x) new firms will enter into the long run causing market supply to reduce, market price to rise and
As per the economic assumption of rationality, there people: (w) always behave with ideal rationality. (x) never behave in erratic or random ways. (y) tend to make decisions consistent along with their goals. (z) foresee completely the effects of thei
Changes in relative prices make easy allocative efficiency through operating like a rationing mechanism while: (i) Ken and Barbie postpone their wedding since they both lost their jobs throughout a recession. (ii) Political instabilit
If goods are efficiently distributed in between households, then all family is: (w) sure to lose when any income redistribution arises. (x) treated equitably. (y) and also off as possible without making any other family worse off. (z) able of gaining by a better distr
In countries where private ownership is a dominant system: (1) Resources are socially owned, with govt. acting as a trustee. (2) Laws concerning the property rights are enforced by government. (3) Monopolization of each productive resource is inevitab
Analysis of individual households, markets and firms is: (w) macroeconomics. (x) microeconomics. (y) normative economics. (z) positive economics. Hey friends please give your opinion for the problem of Economic tha
The primary comprehensive work upon economics within English was written via Adam Smith (1776 year) and entitled. An Inquiry within the Nature and Causes of: (1) Laws of Supply and Demand. (2) Wealth of Nations. (3) Movements of Prices in Competition. (4) Incomes of D
I have a problem in economics on Private ownership of property. Please help me in the following question. The hallmarks of ‘pure’ capitalism are illustrated by the: (1) Absence of productive and allocative efficiency. (2) Interaction of th
I have a problem in economics on Population increase-Economic Growth. Please help me in the following question. The production-possibilities frontier can be shifted external by: (i) Removing unemployment. (ii) Lowering the market prices. (iii) A popul
To say that high joblessness rates in this prosperous country are a national disgrace would be an illustration of a: (w) normative macroeconomic statement. (x) positive macroeconomic statement. (y) positive microeconomic statement. (z) normative microeconomic statemen
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