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- Question
To the economist, total cost includes
Options- A. neither implicit nor explicit costs.
- B. implicit, but not explicit, costs.
- C. explicit, but not implicit, cost.
- D. explicit and implicit costs.
- Correct Answer
- explicit and implicit costs.
- 1. Which of the following can increase your credit card's APR?
Options- A. Missing a credit card payment.
- B. Paying off the full balance.
- C. Cashing in on rewards points.
- D. Paying the minimum. Discuss
- 2. Tennis rackets and ballpoint pens are
Options- A. complementary goods
- B. independent goods
- C. inferior goods
- D. substitute goods Discuss
- 3. A rise in general level of prices may be caused by
Options- A. an increase in the money supply
- B. an increase in the effective demand
- C. a decrease in the aggregate level of output
- D. All of the above Discuss
- 4. Graphically, the market demand curve is
Options- A. greater than the sum of the individual demand curves
- B. the horizontal sum of individual demand curves
- C. steeper than any individual demand curve that is part of it
- D. the vertical sum of individual demand curves Discuss
- 5. If the production possibilities curve was a straight line, this would imply that
Options- A. Economic resources are perfectly substitutable, in the production of the two products
- B. Equal quantities of both products are produced at each possible point on the curve
- C. The two products will sell at the same market price
- D. The two products are equally important to consumers Discuss
- 6. All Insurance is based on a principle called
Options- A. investment premiums
- B. division of risk
- C. cash value coverage.
- D. premium earnings Discuss
- 7. Net exports are negative when
Options- A. exports are greater than imports
- B. imports are greater than exports
- C. No exports
- D. None of the above Discuss
- 8. How long is your TABC certification valid?
Options- A. 1 year
- B. 2 years
- C. 4 years
- D. 6 months Discuss
- 9. Sociologists define the concept of "race" as
Options- A. a socially constructed category composed of people who share biologically transmitted traits that members of a society consider important.
- B. people who fall into any minority category.
- C. a cultural heritage shared by a category of people.
- D. a person's skin color. Discuss
- 10. Supply curves tend to be
Options- A. more elastic in the long run, because there is time for firms to enter or leave the industry.
- B. less elastic in the long run, because there is time for firms to enter or leave an industry.
- C. perfectly elastic in the long run, because consumer demand will have sufficient time to adjust fully to changes in supply. B.
- D. None of the above Discuss
Indian Economy problems
Search Results
Correct Answer: Missing a credit card payment.
Explanation:
Missing a credit card payment can increase your credit card's APR.
APR means Annual Percentage Rate.
Correct Answer: independent goods
Explanation:
Tennis rackets and ballpoint pens are two independent goods. Since, one doesn't depend on the other.
Correct Answer: All of the above
Explanation:
All the three statements lead to either increase in demand of goods and services or decrease in the supply. This leads to increase in general level of prices.
Correct Answer: the horizontal sum of individual demand curves
Correct Answer: The two products will sell at the same market price
Explanation:
A production?possibility frontier (PPF) or production possibility curve (PPC) is the possible tradeoff of producing combinations of goods with constant technology and resources per unit time.
Correct Answer: division of risk
Explanation:
Any type of insurance, be it home, auto, life, health, etc. are based on a principle of division of risk.
Division of Risk :: This is based on how much risk the insurer estimates the insured's coverage to be. The riskier the opportunity (bad health, area the home is in) the higher the premium costs.
Correct Answer: imports are greater than exports
Explanation:
When exports are greater than imports, net exports are positive and similarly, when imports are greater than exports, net exports are negative.
When a country imports goods, it buys them from foreign producers. The money spent on imports leaves the economy, and that decreases the importing nation's GDP.
Correct Answer: 2 years
Explanation:
TABC stands for Texas Alcoholic Beverage Commission. The Texas Alcoholic Beverage Commission regulates the sales, taxation, production, trade, and advertising of alcoholic beverages in Texas. Alcohol Seller/server Training regulated by this regulatory body is also called TABC Certification. It makes the rules the rest of us have to follow, and if you want to get a job serving alcohol in Texas, getting TABC certified is your first step.
Correct Answer: a socially constructed category composed of people who share biologically transmitted traits that members of a society consider important.
Explanation:
Sociologists define the concept of "race" as a socially constructed category composed of people who share biologically transmitted traits that members of a society consider important.
Correct Answer: more elastic in the long run, because there is time for firms to enter or leave the industry.
Explanation:
Supply curves tend to be more elastic in the long run, because there is time for firms to enter or leave the industry.
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