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.

Which hinder economic development?

When the production process is subject to increasing returns to scale, the returns to a variable factor of production:

Consider the following information: National Income at current prices for the year Y1 = $30 billion USD National Income at current prices for the year Y2 = $80 billion USD Price Index for Y1 = 150 Price Index for Y2 = 200 What should be the National Income at constant prices for the year Y2?

________________ is a market structure in which many sellers sell differentiated products.

The vertical distance between the average total cost curve and the average variable cost curves tends to __________ as the production increases beyond a point.

Isoquant maps _____________:

Indices of the physical volume of production are NOT widely used to measure development because:

From where does the demand for funds arise according to the loanable fund theory?

If the supply of labour and capital of a country grow in the same proportion as before but the technology remains the same, the production possibility curve of the country would shift outwards:

Fixed and variable costs are distinguished from each other in terms of: