Function of money in economy
State the main function of money in economy? Answer: The major function of money in an economic system is to ease the exchange of services and goods.
State the main function of money in economy?
Answer: The major function of money in an economic system is to ease the exchange of services and goods.
When the hourly wage rate (w) of $15 and the hourly price of capital (r) of $75, the average cost of producing any specified level of output into the long run will be minimized where: (1) MPPL = MPPK. (2) MPPL/MPPK =
Substitution takes place when prices change and hence demand curves are negatively-sloped since of the behavior of consumers which most directly underpins the law of: (1) Equivalent marginal utilities per dollar. (2) Diminishing net utility. (3) The income effect. (4)
When no goods generate external costs or benefits within their consumption or production and when the income distribution is deemed acceptable, in that case economic efficiency is promoted through: (w) government inte
The part of your monthly rental check which shows pure economic rent is that that pays only for the use of the landlord's: (w) land. (x) capital. (y) labor. (z) entrepreneurial skills. I need a goo
The real market rate of interest will increase when there is an increase into: (w) pessimism on the parts of investors. (x) willingness to hold illiquid assets. (y) total capital stock relative to national output. (z) households’ desires to cons
Several buyers and sellers are forced to be price-takers since: (w) vigorous competition maintains individuals from noticeably influencing the market. (x) only monopoly firms adjust quantities. (y) markets adjust slowly. (z) quantity adjustment is not
Explain the concept of a concentration ratio. Is the concentration ratio in a monopolistically competitive industry likely to be higher than for a perfectly competitive industry
When the prices rise of Comfort shoes rise through two percent, causing Wonder sock sales to fall through six percent, these goods are _____, and _____ is about the cross price elasticity of demand. (1) luxuries; 6. (2) necessities; 2. (3) subst
A monopolistically competitive firm: (w) confronts a perfectly elastic demand curve. (x) is a price taker. (y) faces stiff competition from many competitors producing close substitutes for its product. (z) consciously considers potential responses by
Can someone please help me in finding out the most accurate answer from the following question? The Accounting profit is the difference among: (1) Dollar revenues and accounting costs. (2) Net revenue and economic cost. (3) Accounting cost and economic cost. (4) Psych
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