Which of the following is not an economic problem ? (1) Deciding between paid work and leisure (2) Deciding between expenditure on one good and the other (3) Deciding between alternative methods of personal savings (4) Deciding between different ways of spending leisure time

Which of the following is not an economic problem ? (1) Deciding between paid work and leisure (2) Deciding between expenditure on one good and the other (3) Deciding between alternative methods of personal savings (4) Deciding between different ways of spending leisure time
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Deciding between different ways of spending leisure time
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Which of the following is not an economic problem? (1) Deciding between paid work leisure (2) Deciding between expenditure on one good and the other (3) Deciding between alternative methods of personal savings (4) Deciding between different ways of spending leisure time

Description : Which of the following is not an economic problem? (1) Deciding between paid work leisure (2) Deciding between expenditure on one good and the other (3) Deciding between alternative methods of personal savings (4) Deciding between different ways of spending leisure time

Last Answer : (3) Deciding between alternative methods of personal savings Explanation: The Theory of Economic Problem states that scarcity exists in the sense that only finite and insufficient resources are ... to allocate scarce resources to the provision of various goods and services within the economy.

The balance of payments equals (a) The difference between household spending over earnings (b) The difference between government expenditure over its income © A measure of the value of economic transactions between residents of a country and rest of the world (d) The difference between inflation and unemployment.

Description : The balance of payments equals (a) The difference between household spending over earnings (b) The difference between government expenditure over its income © A measure of the value of economic ... a country and rest of the world (d) The difference between inflation and unemployment.

Last Answer : © A measure of the value of economic transactions between residents of a country and rest of the world

Which one of following represents the Savings of the Private Corporate Sector? (1) Dividends paid to shareholders (2) Total profits of a company (3) Undistributed profits (4) Excess of income over expenditure

Description : Which one of following represents the Savings of the Private Corporate Sector? (1) Dividends paid to shareholders (2) Total profits of a company (3) Undistributed profits (4) Excess of income over expenditure

Last Answer : (3) Undistributed profits Explanation: For private corporate sector, retained profits adjusted for non operating surplus/deficit is considered as its Net Saving. Retained profits are those ... commitments to depreciation provision for various fixed assets, debts, government and to shareholders.

Which one of the following represents the Savings of the Private Corporate Sector? (1) Dividends paid to shareholders (2) Total profits of a company (3) Undistributed profits (4) Excess of income over expenditure

Description : Which one of the following represents the Savings of the Private Corporate Sector? (1) Dividends paid to shareholders (2) Total profits of a company (3) Undistributed profits (4) Excess of income over expenditure

Last Answer : Undistributed profits

4. For which of the following reasons might inflation cause Real GDP to grow slower than it otherwise would? a. Inflation makes everyone poorer b. Inflation reduces the value of consumer debt c. Inflation increases business investment spending d. Inflation decreases savings in financial form

Description : 4. For which of the following reasons might inflation cause Real GDP to grow slower than it otherwise would? a. Inflation makes everyone poorer b. Inflation reduces the value of consumer debt c. Inflation increases business investment spending d. Inflation decreases savings in financial form

Last Answer : d. Inflation decreases savings in financial form

The marginal propensity to consume is equal to (a) Total spending/Total consumption (b) Total consumption/ Total income. © Change in consumption/ Change in income (d) Change in consumption/ Change in savings.

Description : The marginal propensity to consume is equal to (a) Total spending/Total consumption (b) Total consumption/ Total income. © Change in consumption/ Change in income (d) Change in consumption/ Change in savings.

Last Answer : © Change in consumption/ Change in income

An indifference curve measures the same level of - (1) Output from two factors (2) Satisfaction from two commodities (3) Satisfaction from Income and Capital (4) Satisfaction from expenditure and savings

Description : An indifference curve measures the same level of - (1) Output from two factors (2) Satisfaction from two commodities (3) Satisfaction from Income and Capital (4) Satisfaction from expenditure and savings

Last Answer : (2) Satisfaction from two commodities Explanation: An indifference curve is a locus of combinations of goods which derive the same level of satisfaction. so that the consumer is indifferent ... of various points showing different combinations of two goods providing equal utility to the consumer

Which one of the following is not a method for computing GNP? (1) Income Approach (2) Expenditure Approach (3) Savings Approach (4) Value Added Approach

Description : Which one of the following is not a method for computing GNP? (1) Income Approach (2) Expenditure Approach (3) Savings Approach (4) Value Added Approach

Last Answer : (1) Income Approach Explanation: Gross National Product (GNP) can be defined as an economic statistic which includes Gross Domestic Product, plus any income earned by the residents from investments ... foreign countries by the residents of a country - income earned by nonresidents in that country.

Investment and savings are kept equal through a change in the level of - (1) Consumption (2) Investment (3) Government expenditure (4) Income

Description : Investment and savings are kept equal through a change in the level of - (1) Consumption (2) Investment (3) Government expenditure (4) Income

Last Answer : (1) Consumption Explanation: Desired savings are kept equal to desired investment by responses to interest rate changes. Savings identity or the savings investment identity is a concept in ... brings savings and investment into balance without any intention by business to increase investment.

An indifference curve measures the same level of (1) Output from two factors (2) Satisfaction from two commodities (3) Satisfaction from Income and Capital (4) Satisfaction from expenditure and savings

Description : An indifference curve measures the same level of (1) Output from two factors (2) Satisfaction from two commodities (3) Satisfaction from Income and Capital (4) Satisfaction from expenditure and savings

Last Answer : Satisfaction from two commodities

Which one of the following is not a method for computing GNP ? (1) Income Approach (2) Expenditure Approach (3) Savings Approach (4) Value Added Approach

Description : Which one of the following is not a method for computing GNP ? (1) Income Approach (2) Expenditure Approach (3) Savings Approach (4) Value Added Approach

Last Answer : Income Approach

Investment and savings are kept equal through a change in the level of (1) Consumption (2) Investment (3) Government expenditure (4) Income

Description : Investment and savings are kept equal through a change in the level of (1) Consumption (2) Investment (3) Government expenditure (4) Income

Last Answer : Consumption

Which one of the following can truthfully be said of non-school, active agencies of social interaction? Options: A) The less education people have, the more they use established recreational agencies B) The largest items of the expenditure for leisure time activities are for those of a passive nature C) Adult sponsorship of youth serving organizations has proved undesirable D) The community council should conduct activities, not just to co-ordinate them

Description : Which one of the following can truthfully be said of non-school, active agencies of social interaction? Options: A) The less education people have, the more they use established recreational ... has proved undesirable D) The community council should conduct activities, not just to co-ordinate them

Last Answer : B) The largest items of the expenditure for leisure time activities are for those of a passive nature

Which of the following is not included in the National Income? (1) Imputed rent of owner-occupied houses (2) Government expenditure on making new bridges (3) Winning a lottery (4) Commission paid to an agent for sale of house

Description : Which of the following is not included in the National Income? (1) Imputed rent of owner-occupied houses (2) Government expenditure on making new bridges (3) Winning a lottery (4) Commission paid to an agent for sale of house

Last Answer : (3) Winning a lottery Explanation: National income is the total value a country's final output of all new goods and services produced in one year. Transfer payments are not a ... pensions, charity, scholarships etc. Privatesector transfers include charitable donations and prizes to lottery winners.

Which of the following is not included in the National Income? (1) Imputed rent of owner-occupied houses (2) Government expenditure on making new bridges (3) Winning a lottery (4) Commission paid to an agent for sale of house

Description : Which of the following is not included in the National Income? (1) Imputed rent of owner-occupied houses (2) Government expenditure on making new bridges (3) Winning a lottery (4) Commission paid to an agent for sale of house 

Last Answer : Winning a lottery

Would it be possible to have a viable economic model that was not contigent on consumer spending? What would it look like?

Description : Would it be possible to have a viable economic model that was not contigent on consumer spending? What would it look like?

Last Answer : We had one before WWll. Watch thestoryofstuff.com.

Gross Profit means - (1) Total investment over total saving (2) Changes in methods of production (3) Changes in the form of business organisation (4) Total receipts over total expenditure

Description : Gross Profit means - (1) Total investment over total saving (2) Changes in methods of production (3) Changes in the form of business organisation (4) Total receipts over total expenditure

Last Answer : (4) Total receipts over total expenditure Explanation: In accounting, gross profit or sales profit is the difference between revenue and the cost of making a product or providing a service, before deducting ... . Gross profit = Net sales (total receipts) - Cost of goods sold (total expenditure).

Gross Profit means (1) Total investment over total saving (2) Changes in methods of production (3) Changes in the form of business organisation (4) Total receipts over total expenditure

Description : Gross Profit means (1) Total investment over total saving (2) Changes in methods of production (3) Changes in the form of business organisation (4) Total receipts over total expenditure

Last Answer : Total receipts over total expenditure

Which of the following does not determine supply of labour? (1) Size and age-structure of population (2) Nature of work (3) Marginal productivity of labour (4) Work-leisure ratio

Description : Which of the following does not determine supply of labour? (1) Size and age-structure of population (2) Nature of work (3) Marginal productivity of labour (4) Work-leisure ratio

Last Answer : (3) Marginal productivity of labour Explanation: The term 'supply of labour' refers to the number of hours of a given type of labour which will be offered for hire at different wage rates. Usually ... relationship that exists between the wage rate i.e. the price of labour and labour hours supplied.

Which of the following does not determine supply of labour ? (1) Size and age-structure of population (2) Nature of work (3) Marginal productivity of labour (4) Work-leisure ratio

Description : Which of the following does not determine supply of labour ? (1) Size and age-structure of population (2) Nature of work (3) Marginal productivity of labour (4) Work-leisure ratio

Last Answer : Marginal productivity of labour

Multiplier process in economic theory is conventionally taken to mean: (1) the manner in which prices increase (2) the manner in which banks create credit (3) income of an economy grows on account of an initial investment (4) the manner in which government expenditure increases

Description : Multiplier process in economic theory is conventionally taken to mean: (1) the manner in which prices increase (2) the manner in which banks create credit (3) income of an economy grows on account of an initial investment (4) the manner in which government expenditure increases

Last Answer : (3) income of an economy grows on account of an initial investment Explanation: In economics, a multiplier is a factor of proportionality that measures how much an endogenous variable changes in response to a change in ... of the U.S. money supply, and MO as a measure of the U.S. monetary base.

Multiplier process in economic theory is conventionally taken to mean : (1) the manner in which prices increase (2) the manner in which banks create credit (3) income of an economy grows on account of an initial investment (4) the manner in which government expenditure increases

Description : Multiplier process in economic theory is conventionally taken to mean : (1) the manner in which prices increase (2) the manner in which banks create credit (3) income of an economy grows on account of an initial investment (4) the manner in which government expenditure increases

Last Answer : income of an economy grows on account of an initial investment 

The best Index of Economic Development is provided by: (1) Growth in Percapita Real Income from year to year. (2) Growth in National Income at Current Prices. (3) Growth in savings ratio. (4) Improvement in the Balance of Payments Position.

Description : The best Index of Economic Development is provided by: (1) Growth in Percapita Real Income from year to year. (2) Growth in National Income at Current Prices. (3) Growth in savings ratio. (4) Improvement in the Balance of Payments Position.

Last Answer : (1) Growth in Percapita Real Income from year to year. Explanation: Per capita Gross National Product (GNP) is the best index of development. It can be derived by dividing the GNP of a ... its world development report 1998, classified the countries in the world on the bases of per capita GNP.

The best Index of Economic Development is provided by: (1) Growth in Percapita Real Income from year to year. (2) Growth in National Income at Current Prices. (3) Growth in savings ratio. (4) Improvement in the Balance of Payments Position.

Description : The best Index of Economic Development is provided by: (1) Growth in Percapita Real Income from year to year. (2) Growth in National Income at Current Prices. (3) Growth in savings ratio. (4) Improvement in the Balance of Payments Position.

Last Answer : Growth in Percapita Real Income from year to year.

Personal Income' equals - (1) The household sector's in-come (2) Private income minus savings of the corporate sector minus corporation tax (3) Personal disposable income plus miscellaneous receipts of the Goverment (4) All of the above

Description : Personal Income' equals - (1) The household sector's in-come (2) Private income minus savings of the corporate sector minus corporation tax (3) Personal disposable income plus miscellaneous receipts of the Goverment (4) All of the above

Last Answer : (3) Personal disposable income plus miscellaneous receipts of the Goverment Explanation: Disposable income is total personal income minus personal current taxes (or plus receipts of the government). ... category of personal (or, private) consumption expenditure) yields personal (or, private) savings

‘Personal Income’ equals (1) The household sector’s income (2) Private income minus savings of the corporate sector minus corporation tax (3) Personal disposable income plus miscellaneous receipts of the Goverment (4) All of the above

Description : ‘Personal Income’ equals (1) The household sector’s income (2) Private income minus savings of the corporate sector minus corporation tax (3) Personal disposable income plus miscellaneous receipts of the Goverment (4) All of the above

Last Answer : Personal disposable income plus miscellaneous receipts of the Goverment

Transfer earning or alternative cost is otherwise known as (1) Variable cost (2) Implicit cost (3) Explicit cost (4) Opportunity cost (economic cost)

Description : Transfer earning or alternative cost is otherwise known as (1) Variable cost (2) Implicit cost (3) Explicit cost (4) Opportunity cost (economic cost) 

Last Answer : Opportunity cost (economic cost)

What are some ways you can spend your leisure time?

Description : What are some ways you can spend your leisure time?

Last Answer : Feel Free to Answer

Where can I find information about managing savings, and spending less?

Description : Where can I find information about managing savings, and spending less?

Last Answer : ps, off to work, I’ll drop in to hand out lurve and responses later tonight

The amounts of P, Q and R in the ratio 3:4:5 and their spending are in the ratio 4:5:6. If P saves 1/6th of his income then then savings of P, Q, R are in the ratio A) 18:11:3. B) 12:13:4. C) 4:11:18. D) None

Description : The amounts of P, Q and R in the ratio 3:4:5 and their spending are in the ratio 4:5:6. If P saves 1/6th of his income then then savings of P, Q, R are in the ratio A) 18:11:3. B) 12:13:4. C) 4:11:18. D) None

Last Answer : Answer: C)  Income of P,Q,R = 3x:4x:5x Expense of 4:5:6=4y:5y:6y.  Savings [income –expenditure]  =3x-4y :4x-5y :5x-6y------->1  Given 3x-4y=x/6  y=17x/24  Sub if (1) is,  =3x-4(17x/24) :4x-5(17x/24) :5x-6(17x/24)  =8x:22x:36x  = 4:11:18

The average monthly expenditure of a family was Rs. 2200 during the first 3 months; Rs. 2250 during the next 4 months and Rs. 3120 during the last 5 months of a year. If the total savings during the year were Rs. 1260, then the average monthly income was: a) Rs. 2605 b) Rs. 2680 c) Rs. 2705 d) Rs. 2745 e) Rs. 2595

Description : The average monthly expenditure of a family was Rs. 2200 during the first 3 months; Rs. 2250 during the next 4 months and Rs. 3120 during the last 5 months of a year. If the total savings during the year were Rs. 1260 ... income was: a) Rs. 2605 b) Rs. 2680 c) Rs. 2705 d) Rs. 2745 e) Rs. 2595

Last Answer : Total expenditure for first 3 months = 2200 3 = Rs 6600 Total expenditure for next 4 months = 2250 4 = Rs9000 Total expenditure for last 5 months = 3120 5 = Rs 15600 Total expenditure = 6600 + ... + savings = 31200 + 1260 = Rs 324060 Average monthly income = 32460/12 = Rs 2705 Answer: c)

The ratio of income of X and Y is 4:3. The sum of their expenditure is Rs.12,000 and the amount of savings is X is equal to the amount of expenditure of Y.What is the salary of Y? A) 9000 B) 7000 C) 12000 D) 15000 E) None of these

Description : The ratio of income of X and Y is 4:3. The sum of their expenditure is Rs.12,000 and the amount of savings is X is equal to the amount of expenditure of Y.What is the salary of Y? A) 9000 B) 7000 C) 12000 D) 15000 E) None of these

Last Answer : Answer: A X’s saving = Expenditure of Y = S 4x-S + S = 12000 X = 3000 3x =3*3000 = 9000

Personal disposable income is : (1) always equal to personal income. (2) always more than personal income. (3) equal to personal income minus direct taxes paid by household. (4) equal to personal income minus indirect taxes.

Description : Personal disposable income is : (1) always equal to personal income. (2) always more than personal income. (3) equal to personal income minus direct taxes paid by household. (4) equal to personal income minus indirect taxes.

Last Answer : (3) equal to personal income minus direct taxes paid by household. Explanation: Disposable income is total personal income minus personal current taxes. In national accounts definitions, personal ... category of personal (or, private) consumption expenditure) yields personal (or, private) savings

Personal disposable income is : (1) always equal to personal income. (2) always more than personal income. (3) equal to personal income minus direct taxes paid by household. (4) equal to personal income minus indirect taxes.

Description : Personal disposable income is : (1) always equal to personal income. (2) always more than personal income. (3) equal to personal income minus direct taxes paid by household. (4) equal to personal income minus indirect taxes. 

Last Answer : equal to personal income minus direct taxes paid by household. 

Which statement does not reflect the idea of ethical relativism: A. All opinions are equal; no one can say what is ethically right or wrong. B. One's culture, society, or personal feelings are the only criteria for deciding what is ethically right or wrong. C. Determining what is ethically right or wrong is a process of arguing from an appeal to values and principles that justify and legitimize an opinion. D. Philosophical ethics is simply a process of clarifying values, not a process of justifying them.

Description : Which statement does not reflect the idea of ethical relativism: A. All opinions are equal; no one can say what is ethically right or wrong. B. One's culture, society, or personal feelings are ... D. Philosophical ethics is simply a process of clarifying values, not a process of justifying them.

Last Answer : C. Determining what is ethically right or wrong is a process of arguing from an appeal to values and principles that justify and legitimize an opinion.

Which statement does not reflect the idea of ethical relativism: A. All opinions are equal; no one can say what is ethically right or wrong. B. One's culture, society, or personal feelings are the only criteria for deciding what is ethically right or wrong. C. Determining what is ethically right or wrong is a process of arguing from an appeal to values and principles that justify and legitimize an opinion. D. Philosophical ethics is simply a process of clarifying values, not a process of justifying them.

Description : Which statement does not reflect the idea of ethical relativism: A. All opinions are equal; no one can say what is ethically right or wrong. B. One's culture, society, or personal feelings are ... . D. Philosophical ethics is simply a process of clarifying values, not a process of justifying them.

Last Answer : C. Determining what is ethically right or wrong is a process of arguing from an appeal to values and principles that justify and legitimize an opinion.

Is the problem with the economy, the poor want a living wage, or the wealthy get paid too much?

Description : Is the problem with the economy, the poor want a living wage, or the wealthy get paid too much?

Last Answer : You might want to clean up this question. I’m not sure what it is asking.

I am looking for online resources for aggregated statistics on corporate spending and earnings in the US, help?

Description : I am looking for online resources for aggregated statistics on corporate spending and earnings in the US, help?

Last Answer : So you mean for all of the companies in the U.S. or individual companies?

Which one of the following is not a function of the central bank in an economy? (1) Dealing with foreign exchange (2) Controlling monetary policy (3) Controlling government spending (4) Acting as a banker's bank

Description : Which one of the following is not a function of the central bank in an economy? (1) Dealing with foreign exchange (2) Controlling monetary policy (3) Controlling government spending (4) Acting as a banker's bank

Last Answer : (3) Controlling government spending Explanation: A central bank, reserve bank, or monetary authority is a public institution that manages a state’s currency, money supply, and interest rates. Central banks also usually oversee the commercial banking system of their respective countries.

In a free enterprise economy, resource allocation is determined by - (1) the pattern of consumers' spending (2) the wealth of the entrepreneurs (3) decision of the Government (4) the traditional employment of factors

Description : In a free enterprise economy, resource allocation is determined by - (1) the pattern of consumers' spending (2) the wealth of the entrepreneurs (3) decision of the Government (4) the traditional employment of factors

Last Answer : (1) the pattern of consumers' spending Explanation: In a free market economy, resources are allocated through the interaction of free and self-directed market forces. This means that what to ... is determined by producers, and who gets the products depends upon the purchasing power of consumers.

“Crowding out” means that a. a government budget deficit lowers interest rates and causes investment spending to rise b. an increase in marginal tax rates lowers production c. a government budget deficit raises interest rates and causes investment spending to fall d. a government budget deficit raises American exports and lowers American imports

Description : Crowding out means that a. a government budget deficit lowers interest rates and causes investment spending to rise b. an increase in marginal tax rates lowers production c. a government ... spending to fall d. a government budget deficit raises American exports and lowers American imports

Last Answer : c. a government budget deficit raises interest rates and causes investment spending to fall

Which of the following is an automatic stabilizer? a. unemployment benefits b. spending on education c. defense spending d. net interest

Description : Which of the following is an automatic stabilizer? a. unemployment benefits b. spending on education c. defense spending d. net interest

Last Answer : a. unemployment benefits

7. Which of the following statements is/are true? a. Business Investment Spending occurs when individuals buy stock in the stock market b. Productivity is the United States grew very slowly between 1973 and 1996 c. Because of discouraged workers, the official unemployment rate is too high d. “Full employment” occurs when there is no frictional unemployment

Description : 7. Which of the following statements is/are true? a. Business Investment Spending occurs when individuals buy stock in the stock market b. Productivity is the United States grew very slowly ... unemployment rate is too high d. Full employment occurs when there is no frictional unemployment

Last Answer : b. Productivity is the United States grew very slowly between 1973 and 1996

10. “Crowding out” means that a. a government budget deficit lowers interest rates and causes investment spending to rise b. an increase in marginal tax rates lowers production c. a government budget deficit raises interest rates and causes investment spending to fall d. a government budget deficit raises American exports and lowers American imports

Description : 10. Crowding out means that a. a government budget deficit lowers interest rates and causes investment spending to rise b. an increase in marginal tax rates lowers production c. a ... investment spending to fall d. a government budget deficit raises American exports and lowers American imports

Last Answer : c. a government budget deficit raises interest rates and causes investment spending to fall

9. Which of the following is an automatic stabilizer? a. unemployment benefits b. spending on education c. defense spending d. net interest

Description : 9. Which of the following is an automatic stabilizer? a. unemployment benefits b. spending on education c. defense spending d. net interest

Last Answer : a. unemployment benefits

7. According to Keynes, when the Great Depression started, the government should have: a. done nothing b. decreased the money supply c. had a large increase in government spending d. enacted high tariffs, such as the Smoot-Hawley Tariff

Description : 7. According to Keynes, when the Great Depression started, the government should have: a. done nothing b. decreased the money supply c. had a large increase in government spending d. enacted high tariffs, such as the Smoot-Hawley Tariff

Last Answer : c. budget surplus of $1000

6. Assume that Potential Real GDP equals $10,000. National Income is therefore $10,000. Of this, consumers will pay $2,000 in taxes, save $1,000, and spend $7,000 on consumer goods. Business Investment spending is $2000. In order to avoid recessions and inflation (to have equilibrium), the government should have a: a. balanced budget b. budget deficit of $1000 c. budget surplus of $1000 d. budget deficit of $2000 C C A A C

Description : 6. Assume that Potential Real GDP equals $10,000. National Income is therefore $10,000. Of this, consumers will pay $2,000 in taxes, save $1,000, and spend $7,000 on consumer goods. Business Investment ... . budget deficit of $1000 c. budget surplus of $1000 d. budget deficit of $2000 C C A A C

Last Answer : c. budget surplus of $1000

Inclusive governance includes a. Allowing NBFCs to do banking b. Increase government spending on health c. Strengthening mid-day meals scheme d. All the above

Description : Inclusive governance includes a. Allowing NBFCs to do banking b. Increase government spending on health c. Strengthening mid-day meals scheme d. All the above

Last Answer : d. All the above Inclusive governance denotes inclusion of schemes and other measures for benefit of all the sections of the society.