Meaning of utility
For economists, the term "utility" signifies: 1) versatility and flexibility 2) rationality 3) pleasure and satisfaction 4) purposefulness.
Give the answer of following question. A progressive tax is such that: A) tax rates are higher the greater one's income. B) the same tax rate applies to all income receivers, so that the rich pay absolutely more taxes than the poor. C) entrepreneurial income is exempt
Select the right answer of the question. The physical export of motorcycles from the United States to Mexico best illustrates a: A) trade flow. B) resource flow. C) financial flow. D) technology flow.
Saving function: The relationship among saving and income is termed as saving function.
The transfer of wealth from industrialized countries to oil exporting countries (OPEC) which followed skyrocketing oil prices within the 1970 year indicates such that the price elasticity of demand for oil: (w) relatively low. (x) relatively high. (y)
Every firm which can considerably influence the price of its output: (i) is a pure monopoly. (ii) will be more profitable than any firm in pure competition. (iii) has market power: (iv) is essentially large relative to the market demand curve facing the firm. (v) has
The strikes tend to be resolved after worker’s savings trickle down to a discomfort region and there is an exhaustion of: (i) Public tolerance, causing government to set the fair settlement. (ii) Managers and inventories, causing the firms to increase their offe
Compared to other relatively prosperous developed nations, the United States: (w) has greater inequality in the distribution of its wealth and national income. (x) enjoys the lowest cost medical care and the best average public health. (y) has been the most aggressive
Open market operation signifies to the sale and purchase of securities by the Central Bank in case of deficient demand whenever AD falling short of AS at full employment, the Central Bank purchases securities in open market and makes payment to the se
Can someone help me in finding out the right answer from the given options. Being disappointed whenever you finally learn how some desserts are accessible after you have already told the server at a restaurant that you will try the ‘all-you-can-eat’ buffet
If demand for good falls due to increase in its own price. Then what is the change in demand termed? Answer: Contraction of demand
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