Discussion
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- Question
For economists, the word "utility" means
Options- A. pleasure and satisfaction
- B. purposefulness
- C. versatility and flexibility
- D. rationality
- Correct Answer
- pleasure and satisfaction
- 1. An improvement in technology would shift
Options- A. the demand curve rightward
- B. the supply curve rightward
- C. the supply curve leftward
- D. the demand curve leftward Discuss
- 2. Globalization has the largest effect on
Options- A. Politics
- B. Economy
- C. Employment
- D. Business Discuss
- 3. A basic concept in economics is that all resources are
Options- A. Valuable
- B. Limited
- C. Renewable
- D. Allocated Discuss
- 4. A trial balance is prepared to
Options- A. measure credits
- B. measure debits
- C. measure credits = debits are not
- D. None of the above Discuss
- 5. The law of supply indicates that, other things equal
Options- A. sellers will offer more of a product at low prices than at high prices.
- B. buyers will purchase less of a good at high prices than at low prices.
- C. Sellers will offer more of a product at high prices than at low prices.
- D. the product supply curve is downward sloping. Discuss
- 6. An increase in demand means that
Options- A. the demand curve shifts to the right
- B. consumers desire a greater quantity
- C. Both A & B
- D. None of the above Discuss
- 7. A decrease in the price level will
Options- A. result in a movement downward along the aggregate demand curve
- B. shift the aggregate demand curve to the right
- C. result in a movement upward along the aggregate demand curve
- D. shift the aggregate demand curve to the left Discuss
- 8. Consumer surplus arises in a market because
Options- A. some consumers are willing to pay more than the equilibrium price but do not need to do so
- B. some consumers are willing to pay less than the equilibrium price but do not need to do so
- C. at market price, the quantity demanded is less than the quantity supplied
- D. at market price, the quantity demanded is greater than the quantity supplied Discuss
- 9. In calculating the GDP national income accountants
Options- A. add increases in inventories or subtract decreases in inventories
- B. add exports, but subtract imports
- C. Both A & B
- D. None of the above Discuss
- 10. The largest component of GDP is
Options- A. income
- B. wages
- C. consumption
- D. imports Discuss
Indian Economy problems
Search Results
Correct Answer: the supply curve rightward
Explanation:
An improvement in technology would shift the supply curve rightward.
Correct Answer: Economy
Explanation:
Globalization has the largest effect on the economies. Globalisation is the process of interaction and integration between people, companies, and governments worldwide.
Correct Answer: Limited
Explanation:
The basic concept in economics is that all resources are limited.
Correct Answer: measure credits = debits are not
Correct Answer: Sellers will offer more of a product at high prices than at low prices.
Correct Answer: Both A & B
Explanation:
An increase in demand means that the demand curve shifts to the right, and hence quantity demanded will be high at each price.
Correct Answer: result in a movement downward along the aggregate demand curve
Correct Answer: some consumers are willing to pay more than the equilibrium price but do not need to do so
Correct Answer: add increases in inventories or subtract decreases in inventories
Correct Answer: consumption
Explanation:
Consumption is the largest component of GDP.
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