Per Capita Real Income is calculated by dividing:

The main area of application implementation of the Cobb-Douglas production function is:

In response to an increase in the demand for its goods, a firm takes a bank overdraft, buys raw materials with the money so raised, and increases production. The firm can be said to have resorted to:

Which would you include when calculating the GNP?

_______________ is a tariff that maximizes a country's welfare.

The breakdown of the gold standards was the result of which of the following factors?

1. Deflation policies caused considerable difficulties.

2. Some gold standard countries did not obey the gold standard rules.

3. Sterling was over valued.

4. The export of gold became impossible.

Why are intermediate goods used to make final goods NOT included in the Net National Product?

Which represent the marginal propensity to import?

_____________ refers to the change in the output of a firm or industry in the long run, when all inputs are increased or decreased simultaneously in the same ratio.

Economics can be defined as:

Which of the four equations given below is INCORRECT?