Because it includes income of all the residents of a country, not just one individual. None of the above 93. Most lists of basic human needs include all the following items except a. None of the above 76. In addition, as the material covered between exams changes semester to semester, the questions here are not broken into specific exams.
These problems relate to the aggregation of micro economic variables. It would be nice if you might explain the consumer's role in providing these answers. If 's' is the savings rate and 'v' the capital-output ratio, then 'g' the rate of growth in the Harrod Domar model is represented by a. Which of the following statements is consistent with Hirschman'ss theory of unbalanced growth? Problems concerning inflation or general rise in prices and deflation or general fall in prices are also studied under macroeconomics. The Lewis model of the dual economy makes the following assumption s a. Children have costs and benefits to parents, and a.
Import restrictions involve a deadweight loss, c. Depending on how quickly we move this semester, the class will cover between 45 to 54 of these questions. Management ideas and practices have actually been used from the earliest times of recorded history. More of one product can be produced without producing less of the other product c. Malthus argued that the poor would always remain poor because a.
Voter may be offered dollars to help elect certain political candidates c. The question on whether or not a stimulation package for the United States economy will be effective depends on so many different factors. Reading the The Economist is a great way to stay on top of recent political and economic events. The rural wage initially remains constant b. In Interviews Ace your next interview! In a non-Harris-Todaro world, if it is observed that poverty is highly correlated with unemployment then which choice of techniques is likely to reduce poverty a. Here are a few sample questions:.
When inflation rises, these 5717 Words 23 Pages decision maker changes the status quo if the expected marginal benefit is greater than the expected marginal cost. As shown in recent reports, the United States economy has indeed taken a hit from the collapse of the subprime market. At present, the economic slowdown has resulted in loss of jobs and ultimately lower revenues for the United States government. The maximum rate of growth of capital and labor in an economy over time The term dollar votes in a market system means: a. If individual units are almost similar, aggregation does not present much difficulty.
A certain amount of goods and services is necessary for a minimum standard of living. Strictly there is no way of giving an example of a general subject such as this. It studies the causes of fluctuations in the business cycle and to formulate the policies to control inflation and deflation. The advantage arises due to the inverse relationship between per-unit fixed cost and the quantity produced. But if micro economic variables relate to dissimilar individual units, their aggregation into one aggregation into one macro economic variable may be incorrect and hazardous.
In a true command economy, what to produce is determined by a central economic authority. Goods and services: resources c. Microeconomics explores the patterns of supply and demand that determine how prices and outputs are established in individual markets. Both the Ricardian growth model and the Lewis model share the assumption that population growth will outpace food production in the long run. As incomes rise there tends to be a shift of labor from the services sector to the industrial sector.
People have all the information they need to make a decision The economies of Ireland and France are: a. None of the above 74. A hike in national income does not mean that individual incomes have risen. The production possibility frontier can be considered a measure of a. Consumer sovereignty and dollar votes d. What market conditions are expected for milk in the nation this year? Economic goals are conflicting b.