Category: Introduction To Economics

A. the price of related goods consumer income
B. consumer incomes, tastes
C. the costs of production bank opening hours
D. the price of related goods preferences

A. a nonlinear relationship
B. a positive linear relationship
C. a scatter diagrams
D. a negative linear relationship

A. More spending by the government reduces poverty
B. Higher taxes lead to less desire to work
C. The Pakistan’s economy is growing fast relative to other SAARC members
D. The government should concentrate on reducing unemployment

A. capital consumption frontier.
B. Lorenz curve.
C. Circular-flow diagram.
D. Production possibility curve.

A. points outside the production possibility curve
B. either points inside or outside the production possibility curve.
C. points on the production possibility curve
D. points inside the production possibility curve.

A. unions increasing wages too much
B. OPEC raising the price of oil too much
C. governments increasing the quantity of money too much
D. regulations raising the cost of production too much

A. Fewer students will take degree courses in education and more will take accounting courses.
B. fewer students will take degree courses in education and more will take accounting courses
C. fewer students will attend university
D. None of these

A. Investors owning companies
B. Government ownership of assets
C. Market forces of supply and demand
D. All trade via barter

A. Subaru’s impact on the price f cars
B. a farmer’s impact on the price of corn
C. Microsoft’s impact on the price of desktop operating systems
D. a student’s impact on college tuition

A. quantity demanded equals quantity supplied
B. Excess demand and excess supply are zero
C. The market is cleared by the equilibrium price
D. All of the above