Which of the following is not usually a macro-economic objective? 3. If aggregate supply is price inelastic an increase in demand mainly affects: 5. Which of the following is not an example of …
The spending on UK exports in foreign currency will fall if demand for UK exports is price elastic correct incorrect * not completed
Which of the following can the government not use directly to control the economy?
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C. the substitution effect always causes consumers try to substitute away from the consumption of a commodity when the commodity's price rises. correct incorrect
A person with health insurance is more likely to become ill and visit a doctor than is someone without health insurance. One reason is that a person with health insurance is less likely to take precautions that will prevent illness.
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A shift in supply will have a bigger effect on price than output if demand is:
Which of the following statements is NOT true? You have some unanswered questions. Do you really want to submit?
Multiple choice questions - Oxford University Press Economics multiple choice questions and answers on Economics MCQ questions quiz on Economics objectives questions Page 2 The Fundamentals of Managerial Economics. Multiple Choice Questions. The higher the interest rate: a. The greater the present value of a future amount B.
Which of the following is a normative statement in economics? You have some unanswered questions. Do you really want to submit?
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In the long run equilibrium in perfect competition: You have some unanswered questions. Do you really want to submit?
If the output levels at which short-run marginal and average cost curves reach a minimum are listed in order from smallest to greatest, then the order would be
Which of the alternatives to the modern theory of the firm holds that managers attempt to meet some goal that is defined in terms of a specified level of sales, profits, growth, or market share?
In monopolistic competition if firms are making abnormal profit other firms will enter and:
D. the slope of a ray drawn from the origin to the point on the total cost curve where output = 10. correct incorrect * not completed
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With a downward sloping demand for labour and upward sloping supply of labour curve then a fall in demand for labour will lead to:
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In game theory, a choice that is optimal for a firm no matter what its competitors do is referred to as A. the dominant strategy. correct incorrect B. the game-winning choice. correct incorrect
Judges may apply the law set out in relevant decision of previous superior courts and sometimes courts of the same standing. correct incorrect
General form of the consumption function: C = a + bY. Calculate the numbers of a and b according to graph 1? Explain the difference between autonomous and induced consumption. …
Framing refers to the fact that decisions depend on. the fact that information that stands out most affects our decisions. You have some unanswered questions. Do you really want to submit?
the fact that information that stands out most affects our decisions. correct incorrect * not completed
Changes to the benefits system, so that there was less incentive to work, would most likely:
If an economy moves from producing 10 units of A and 4 units of B to producing 7 As and 5Bs, the opportunity cost of the 5 th B is:
Has the right to investigate monopolies and will assess each one on its own merits correct incorrect