Goods and services
Refer to the above data. Choose the right answer from following. Zabella's balance on goods and services illustrates a: A) $5 billion deficit. B) $5 billion surplus. C) $10 billion surplus. D) $15 billion deficit.
When an individual or family lacks adequate resources to escape a state of destitution, their circumstances are described as: (1) involuntary poverty. (2) relative poverty. (3) a vicious cycle of poverty (4) institutional poverty. (5) a culture of pov
Price controls are intended to: (w) eliminate arbitrage and speculation. (x) stabilize prices. (y) make sure laissez-faire policies. (z) ignore shortages and surpluses. How can I solve my economics problem? Please
Price ceiling: Price ceiling refers to the highest price fixed by the government beneath the market determined price (that is, equilibrium price) so that requirements might be made accessible to the common people at a reasonable price. In India the go
Can someone help me in finding out the right answer from the given options. The enormously high profits of big corporations are: (1) Incentives which attract the competition by other firms. (2) Immune to the business cycles. (3) Mainly due to the corporate manipulatio
The relative monetary values an individual consumer subjectively puts on containing a bit more or less of a good are termed as: (i) Consumer preferences. (ii) Demand prices. (iii) Psychic prices. (iv) Subliminal prices. (v) Consumer utilities.
In the short run, no profit-oriented monopolistically-competitive firm still knowingly generates any output unless: (1) an economic profit is assured. (2) total revenues are expected to equal or exceed its total variable costs. (3) the average wage ra
Barriers of entry tend to be important, and main industries dominated by some huge firms while the market structure is an: (w) monopoly. (x) perfect competition. (y) oligopoly. (z) cartel. Can anybody suggest me th
Payments for a resource into excess of the minimum needed to supply specified amounts of the resource are termed as: (1) economic rents. (2) wage premiums. (3) excess profits. (4) surplus values. (5) capitalization. Q : Best statement of association between Which of the given is the best statement of the association between macroeconomics and microeconomics: (w) Macroeconomics and microeconomics deal along with totally independent types of problems. (x) A clear line splits microeconomic questions from ma
Which of the given is the best statement of the association between macroeconomics and microeconomics: (w) Macroeconomics and microeconomics deal along with totally independent types of problems. (x) A clear line splits microeconomic questions from ma
A purely competitive demand of industry for labor is: (1) less elastic than the horizontal summation of the individual firm’s demands. (2) perfectly elastic. (3) upward sloping because of diminishing marginal returns to labor. (4) equal to the h
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