Which of the following is a characteristic of money?
(a) Recognisable.
(b) It acts as a unit of account.
(c) It acts as a standard for deferred payment.
(d) It acts as a store of Value.
Ans: (a) Recognisable.
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In what ways can income redistribution be viewed as a public good?
What will be an ideal response?
The demand for Dell laptops is more price elastic than the demand for laptops as whole. This is best explained by
a. There are fewer substitutes for Dell laptops than for laptops as whole b. There are more substitutes for Dell laptops than for laptops as whole c. Dell laptops are luxurious goods d. Dell laptops are a necessity
The recession of 2007-2009 happened in part because, after the housing bubble burst in 2006, disruptions in the financial market made it difficult:
A. for businesses and consumers to borrow money. B. to fight inflation. C. to shift the PAE line downward. D. for government to finance deficit spending.
The domestic demand and supply for sugar are Qd = 700 ? 2P and QSD = 100 + 4P. The foreign supply is QSF = 150 + 3P. What is the total supply of sugar in the domestic market?
A. Q = 150 + 3P B. Q = 850 + P C. Q = 800 + 2P D. Q = 250 + 7P