Which of the subsequent is the best sort of a normative economic declaration? Select a single:
a. The unemployment rate for women has become two times reduced the overall charge. b. Increase in competition in the car manufacturing industry will result in cost reduction intended for cars. В c. Monopoly makes a decision based on industry prices.
deb. A more powerful regulation must be applied to polluting companies. Responses
The correct response is: A stronger control should be used on polluting corporations.. QuestionВ 2
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In a visual relationship, shifts in a competition are caused by an alteration in: Select one:
a. the incline of the contour.
b. an issue not assessed on the responsable of the graph.
c. among the factors measured on either axes from the graph. В d. any factor, whether measured around the axes of the graph or perhaps not. Opinions
The correct response is: a factor not scored on the responsable of the chart.. QuestionВ 3
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Exhibit 2вЂ“4 Production possibilities curve data
| A| B| C| D| E| F
Capital goods| 150| 140| 120| 90| 50| 0
Consumer goods| 0| 20| 40| 60| 80| 100
| | | | | |
In Exhibit 2вЂ“4, the concept of increasing option costs can be represented by fact that: Select one:
a. the quantity of capital goods developed must be lower than 150. b. the quantity of customer goods is definitely constant for every single change in the quantity of capital merchandise produced. c. greater amounts of capital items must be sacrificed to produce every additional product of buyer goods. В d. the number of consumer products produced should be greater than zero. Feedback
The proper answer is usually: greater numbers of capital items must be sacrificed to produce each additional product of client goods.. QuestionВ 4
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Law of increasing chance cost states:
a. that opportunity cost decreases while production of one output grows. b. that the economy can be operating by full work. В
c. that the stock of technology is elevating.
d. the availability possibilities frontier bows inwards.
The best answer can be: that the overall economy is operating at full employment.. QuestionВ 5
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The idea of relative advantage:
a. helps to analyse the absolute features of countries included. b. shows that a country that does not have an overall advantage should import anything. c. examines the nature plus the extent of specialisation undertaken by nations around the world. В m. suggests that a rustic specialise in making goods or services that it has a larger opportunity expense. Feedback
The correct answer is usually: analyses the nature and the level of specialisation undertaken by nations.. QuestionВ 6
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A great upward-sloping line or contour is used to illustrate:
a. the ceteris paribus presumption.
b. an inverse marriage. В
c. two unrelated variables.
d. a direct relationship.
The proper answer is usually: a direct romance..
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Which of the following concerns wouldВ notВ be examined by a microeconomist but will be studied with a macroeconomist? Select one:
a. Why do national economies grow? В
b. What percentage of consumer income is spent on entertainment? c. Why carry out workers try some fine 4-day operating week?
deb. What happens to worker productivity each time a job alterations to a 4-day working week? e. How is the electrical power industry harmed by the verse of new clean air legislation? Reviews
The correct solution is: For what reason do national economies increase?.
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Question text message
Government helps research and development courses because: Select one:
a. Research and development programs create work.
b. R and d...