Question
Which one of the following statements is correct about
Income and Expenditure Account?Solution
In Income and Expenditure Account, all the revenue incomes and revenue expenses are recorded and therefore it is a Nominal Account and not a real Account.
A profit-maximizing monopolist sets an output of 100 per day and a price of £10. Which of the following statements is true?
You have a budget of Rs. 4000 and would like to purchase LPG cylinders from a local seller who charges Rs. 50 per cylinder. The seller has a subsidy sch...
In the basic Solow model of growth
As per the regression data available: Wage = 11 + 0.24age - 0.23Illiterate + 0.14Married - 0.27Married*Illiterate, where the variables are self-e...
An economist calculated the cross-price elasticity of demand for nicknacks and gizmos and got -0.5. What can she conclude about the relationsh...
When a firm operates with excess capacity
Which of the following demand functions has unitary elasticity everywhere?
Which of the follow statements about price discrimination is not true?
Given the demand function QD=100−2P and the supply function QS=3P−50, where QD is the quantity demanded, QS is the quantity supplied, and P is the p...
Calculate Disposable income if, Consumption (C) = 200, Investment (I) = 50, Government purchases (G) = 70, Government transfer payments (TP) = 150, Taxe...
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