Description : Which law states that with constant taste and preferences, the proportion of income spend on food stuff diminishes as income increases? (1) Say's Law (2) Griffin's Law (3) Gresham's Law (4) Engel's Law
Last Answer : (4) Engel's Law Explanation: According to Engel's Law, as disposable income of a consumer increases, the percentage of income spent for food decreases if all other factors remain constant. This ... demand of food is less than 1. A lower Engel coefficient indicates a higher standard of living.
Description : Engel's Law states the relationship between - (1) quantity demanded and price of a commodity (2) quantity demanded and price of substitutes (3) quantity demanded and tastes of the consumers (4) quantity demanded and income of the consumers
Last Answer : (4) quantity demanded and income of the consumers Explanation: Engel's law is an observation in economics stating that as income rises, the proportion of income spent on food falls, even if ... consumers increase their expenditures for food products (in % terms) less than their increases in income.
Description : Engel’s Law states the relationship between (1) quantity demanded and price of a commodity (2) quantity demanded and price of substitutes (3) quantity demanded and tastes of the consumers (4) quantity demanded and income of the consumers
Last Answer : quantity demanded and income of the consumers
Description : According to Engel’s Law of consumption, the following commodities are likely to have income elasticity of less than one (a) Garments (b) Motor car (c) Cosmetics (d) Wheat and Rice
Last Answer : (d) Wheat and Rice
Description : Gresham's law is related to - (1) Consumption and demand (2) Supply and demand (3) Circulation of money (4) Deficit financing
Last Answer : (3) Circulation of money Explanation: Gresham's law is an observation in economics that "bad money drives out good." More exactly, if coins containing metal of different value have the same value as ... 1558 prompted the economist H.D. Macleod to suggest the term Gresham's law in the 19th century.
Description : Gresham's Law means - (1) Good money replaces bad money in circulation (2) Bad money replaces good money in circulation (3) Good money promotes bad money in the system (4) Bad money promotes good money in the system
Last Answer : (2) Bad money replaces good money in circulation Explanation: Gresham's law is an economic principle that states: "When a government compulsorily overvalues one type of money and undervalues ... or disappear from circulation into hoards, while the overvalued money will flood into circulation."
Description : 'Gresham's Law' in Economics relates to (1) supply and demand (2) circulation of currency (3) consumption of supply (4) distribution of goods and services
Last Answer : (2) circulation of currency Explanation: Gresham's law is an economic principle that states: "When a government compulsorily overvalues one type of money and undervalues another, the undervalued money will leave ... will flood into circulation." It is commonly stated as: "Bad money drives out good."
Description : "Bad money will drive out good money from circulation." This is known as : (1) Engle's Law (2) Gresham's Law (3) Say' Law (4) Wagner's Law
Last Answer : (2) Gresham's Law Explanation: Gresham's law is an economic principle that states: "When a government compulsorily overvalues one type of money and undervalues another, the under-valued money will leave ... money will flood into circulation." It is commonly stated as: "Bad money drives out good."
Description : “Bad money will drive out good money from circulation.” This is known as : (1) Engle’s Law (2) Gresham’s Law (3) Say’ Law (4) Wagner’s Law
Last Answer : Gresham’s Law
Description : Gresham’s law is related to (1) Consumption and demand (2) Supply and demand (3) Circulation of money (4) Deficit financing
Last Answer : Circulation of money
Description : Gresham’s Law means (1) Good money replaces bad money in circulation (2) Bad money replaces good money in circulation (3) Good money promotes bad money in the system (4) Bad money promotes good money in the system
Last Answer : Bad money replaces good money in circulation
Description : Engel’s curve illustrates the relationship between (a) Consumption and Utility (b) Production and Productivity (c) Income and Consumption (d) Income and Production
Last Answer : (c) Income and Consumption
Description : In the law of demand, the statement "Other things remain constant" means - (1) income of consumer should not change (2) price of other goods should not change (3) taste of consumer should not change (4) All of the above
Last Answer : (4) All of the above Explanation: In economics, the law of demand is an economic law, which states that consumers buy more of a good when its price is lower and less when its price is higher ... of good demanded by the consumer will be negatively correlated to the change in the price of the good.
Description : In the law of demand, the statement “Other things remain constant” means (1) income of consumer should not change (2) price of other goods should not change (3) taste of consumer should not change (4) All of the above
Last Answer : All of the above
Description : Pick out the wrong statement. (A) At constant pressure, solubility of a gas in a liquid diminishes with rise in temperature (B) Normally, the gases which are easily liquefied are more soluble ... (D) At constant pressure, solubility of a gas in a liquid increases with rise in temperature
Last Answer : (A) At constant pressure, solubility of a gas in a liquid diminishes with rise in temperature
Description : _____ is that property of a substance which remains constant if no heat enters or leaves the substance, while it does work or alters its volume, but which increases or diminishes should a small amount of heat enter or leave. a. Entrophy b. Enthalpy c. Specific Heat d. None of the above
Last Answer : Entrophy
Description : When income increase, consumption also increases : (1) in a lower proportion (2) in a higher proportion (3) in the same proportion (4) None of the options
Last Answer : (1) in a lower proportion Explanation: According to the Keynesian Consumption theory, "men are disposed, as a rule and on average, to increase their consumption as their income increases, but ... consume decreases, i.e., house-holds spend a decreasing proportion of marginal income on consumption.
Last Answer : in a lower proportion
Description : Price elasticity of demand shows the relationship between demand for a commodity and (a) price of other commodities (b) price of that commodity © tastes and preferences of the consumer (d) income of the consumer
Last Answer : (b) price of that commodity
Description : Third stage of Law of Variable Proportion is called - (1) negative returns (2) positive returns (3) constant returns (4) increasing returns
Last Answer : (1) negative returns Explanation: The stages of Law of Variable Proportion are: Stage 1: Increasing return: Stage 2: Diminishing return; and Stage 3: Negative Return. In the third stage Marginal Product of variable factor is zero. In this stage the Total Product starts diminishing.
Description : Third stage of Law of Variable Proportion is called (1) negative returns (2) positive returns (3) constant returns (4) increasing returns
Last Answer : negative returns
Description : Under the law of demand ceteris paribus is/are (a) Price of other goods ; (b) Disposal income ; (c) Tastes and preferences ; (d) All the three
Last Answer : (d) All the three
Description : Which of the following statement is inconsistent with Say's Law (a) The economy has flexible wages and prices. (b) The economy's level of investment solely depends on the level of income. © The ... produce at full employment level of output. (d) The economy has an environment of laissez faire .
Last Answer : (b) The economy’s level of investment solely depends on the level of income.
Description : Do farm animals have preferences for who they spend time with?
Last Answer : I’ve heard that they do, actually, have preferences. I remember specifically seeing a show where they explained that sheep have sheep friends, and they recognize each others’ faces.
Description : What is "mpc" or the 'marginal propensity to consume'? a) the proportion of total additional planned savings to total additional income b) the proportion of total additional income to total additional ... c) the fraction of total additional income that is used for consumption d) none of the above
Last Answer : : c) the fraction of total additional income that is used for consumption
Description : What is "mps" or the 'marginal propensity to save'? a) the proportion of total additional planned savings to total additional income b) the proportion of total additional income to total additional ... c) the fraction of total additional income that is used for consumption d) none of the above
Last Answer : a) the proportion of total additional planned savings to total additional incom
Description : discribe Engel's law of consumption?
Last Answer : playwrights
Description : All materials obey Hooke's law within elastic limit. When elastic limit is reached, the tensile strain (A) Increases very quickly (B) Decreases very quickly (C) Increases in proportion to stress (D) Decreases in proportion to stress
Last Answer : (A) Increases very quickly
Description : Consumer's sovereignty means: (1) consumers are free to spend their income as they like. (2) consumers have the power to manage the economy. (3) consumer's expenditures influence the allocation of resources. (4) consumer goods are free from government control,
Last Answer : (1) consumers are free to spend their income as they like. Explanation: Consumer sovereignty means that buyers ultimately determine which goods and services remain in production. In unrestricted markets, ... to motivate producers. So ultimately it means how the consumers want to spend their incomes.
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
Description : Consumer’s sovereignty means: (1) consumers are free to spend their income as they like. (2) consumers have the power to manage the economy. (3) consumer’s expenditures influence the alloca tion of resources. (4) consumer goods are free from government control.
Last Answer : consumers are free to spend their income as they like.
Description : An imbalanced chemical reaction equation is against the law of (A) Multiple proportion (B) Conservation of mass (C) Constant proportion (D) None of these
Last Answer : (B) Conservation of mass
Description : Do you generally spend a lot on food and household stuff?
Last Answer : I have to admit I do. More than I should really…
Description : "he national income consists of a collection of goods and services reduced to common basis by being measured in terms of money,"— Who says this? (1) Samuelson (2) Kuznets (3) Hicks (4) Pigou
Last Answer : (3) Hicks Explanation: British economist John Hicks said that National income is a collection of goods and services reduced to a common basis by being measured in terms of money. Hicks ... macroeconomics. His book Value and Capital (1939) significantly extended general-equilibrium and value theory.
Description : “The national income consists of a collection of goods and services reduced to common basis by being measured in terms of money.”–– Who says this ? (1) Samuelson (2) Kuznets (3) Hicks (4) Pigou
Last Answer : Hicks
Description : The Psychological law of consumption states that - (1) proportionate increase in consumption is less than proportionate increase in income (2) increase in income is equal to increase in consumption (3) ... is greater than increase in income (4) consumption does not change with a change in income
Last Answer : (1) proportionate increase in consumption is less than proportionate increase in income Explanation: According to Keynes' psychological law of consumption, increased aggregate consumption due to increased ... demand of the people are already fulfilled, they start saving the extra additional income.
Description : The Psychological law of consumption states that (1) proportionate increase in consumption is less than proportionate increase in income (2) increase in income is equal to increase in consumption (3) ... is greater than increase in income (4) consumption does not change with a change in income
Last Answer : proportionate increase in consumption is less than proportionate increase in income
Description : The law of demand states that - (1) if the price of a good increases, the demand for that good decreases. (2) if the price of a good increases, the demand for that good increases. (3) if ... of that good decreases (4) if the price of a good increases, the quantity demanded of that good increases.
Last Answer : (3) if the price of a good increases, the quantity demanded of that good decreases. Explanation: The law of demand states that, other things remaining the same, the quantity demanded of ... demand, there is an inverse relationship between price and quantity demanded, other things remaining the same.
Description : The law of demand states that (1) if the price of a good increases, the demand for that good decreases. (2) if the price of a good increases, the the demand for that good increases. (3) if ... of that good decreases. (4) if the price of a good increases, the quantity demanded of that good increases.
Last Answer : if the price of a good increases, the quantity demanded of that good decreases.
Description : What proportion of your time at work do you spend actually working?
Last Answer : it depends. A day like today. I totally had nothing to do. Not because I did not want to just waiting on other people. But other days, forget about it!
Description : In the case of parallelization, Amdahl's law states that if P is the proportion of a program that can be made parallel and (1-P) is the proportion that cannot be parallelized, then the maximum speed-up that can be achieved by using N processors is ... ((N-1)P+P) (C) 1/((1-P)+P/N) (D) 1/(P+(1-P)/N)
Last Answer : (C) 1/((1-P)+P/N)
Description : Is the secret goal of Merv Griffins, Wheel of Fortune, to teach Americans not to use different dialects, or slang?
Last Answer : No. Why would that be a goal? What would be gained from that? And suppose it were a goal of the Merv Griffin production company. How effective would it be to spread their philosophy through one pissant game show?
Description : When is Peter Griffin's birthday?
Last Answer : No specific date has been given for his birthday, however, Dr Hartman stated it was in July.
Description : What is Peter Griffin's occupation?
Last Answer : Peter Griffin is a/an Brewery shipping clerk, Former safety inspector at the Happy-Go-Lucky toy factory, Former fisherman
Description : What is Peter Griffin's full name?
Last Answer : Peter Löwenbräu Griffin
Description : What is Peter Griffin's favorite movie?
Last Answer : Roadhouse starring Patrick Swayze.
Description : What is Peter Griffin's favorite color?
Last Answer : One has never been stated.
Description : Is Blake Griffin's dad haitian?
Last Answer : Yes
Description : What is Blake Griffins vertical?
Last Answer : According to NBA Scout reports, Blake Griffin has recorded a 37 inch vertical jump.
Description : J. B. Say's Law of Market was not accepted by - (1) Adam Smith (2) Marshall (3) Malthus (4) David Ricardo
Last Answer : (2) Marshall Explanation: Malthus opposed what has come to be described as Say's Law: that supply creates its own demand. He rejected the proposition that the demand for ... productivity increased significantly, demand would not necessarily match supply and gluts of commodities might result.