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- Question
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
- Correct Answer
- more elastic in the long run, because there is time for firms to enter or leave the industry.
ExplanationSupply curves tend to be more elastic in the long run, because there is time for firms to enter or leave the industry.
- 1. 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
- 2. How long is your TABC certification valid?
Options- A. 1 year
- B. 2 years
- C. 4 years
- D. 6 months Discuss
- 3. 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
- 4. All Insurance is based on a principle called
Options- A. investment premiums
- B. division of risk
- C. cash value coverage.
- D. premium earnings Discuss
- 5. 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. Discuss
- 6. Bilateral monopoly occurs where Discuss
- 7. The real wage will rise if the nominal wage
Options- A. increases more rapidly than the general price level.
- B. increases at the same rate as labor productivity.
- C. falls more rapidly than the general price level.
- D. falls at the same rate as the general price level. Discuss
- 8. Increasing marginal cost of production explains
Options- A. the income effect.
- B. why the supply curve is upsloping.
- C. why the demand curve is downsloping
- D. the law of demand. Discuss
- 9. Trade blocs help countries by
Options- A. competition
- B. economic integration
- C. Increase in trade
- D. All of the above Discuss
- 10. Which of the following is classified as working capital?
Options- A. currents assets
- B. current liabilities
- C. Both A & B
- D. current assets - current liabities Discuss
Indian Economy problems
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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: 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: 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: 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: explicit and implicit costs.
Correct Answer: Bilater monopoly occurs in a market where a single seller ie, a only one monopoly and a single buyer ie, one monopsony exists
Correct Answer: increases more rapidly than the general price level.
Correct Answer: why the supply curve is upsloping.
Correct Answer: All of the above
Explanation:
A trade bloc is a type of intergovernmental agreement for a group of countries where barriers to trade are reduced or eliminated among the participating states and less competition and for economic integration.
Correct Answer: current assets - current liabities
Explanation:
Working capital, also known as net working capital, is the difference between a company?s current assets, like cash, accounts receivable and inventories of raw materials and finished goods, and its current liabilities, like accounts payable.
Working Capital = Current Assets - Current Liabilities
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