A. normal goods B. inferior goods C. perfect substitutes D. close substitutes Correct Answer: Option C - perfect substitutes
A. superior goods B. inferior goods C. the cost of production D. the factors of production Correct Answer: Option D…
A. consumers income increases B. it has no close substitutes C. the price is low D. it has utility Correct…
A. a rational consumer will buy less of X B. consuming more of X will increase total utility C. Y…
A. the state of technology B. the prices of other commodities C. the ease of substitution D. government policy Correct…
A. be borne only by the government B. fall more heavily on consumers C. be shared equally between consumers and…
A. maintaining the fiscal supremacy of the central government the fiscal supremacy of the central government B. evolving an acceptable…
A. import duties B. rents and royalties C. company income tax D. capital gains tax Correct Answer: Option A -…
A. money supply to increase B. commercial banks to reduce lending C. commercial banks to merge D. money supply to…
A. contractionary monetary policy B. decreasing wages C. deficit financing D. rigid fiscal policy Correct Answer: Option C - deficit…