Get Started with ixamBee
Start learning 50% faster. Sign in now
In capitalist economic systems, market forces drive the economy, with private ownership of capital and means of production. The allocation of goods and services is primarily determined by purchasing power rather than individual needs. This means that consumers must have sufficient financial resources to acquire goods, regardless of their necessity. This market mechanism can result in underproduction of essential goods like affordable housing for lower-income populations, as market-driven production responds to effective demand (backed by purchasing power) rather than need alone.
In the case of cost-push inflation, other things being equal:
Which of the following statements about graphs of short-run cost curves is false?
For which of the following consumption functions, the value of income multiplier, k=4?
The fiscal deficit is the difference between the government’s total expenditure and its total receipts excluding ______
Under the Bretton wood system, the long-term development assistance was to be provided by
IBRD
Which of the following best explains why the J-curve effect occurs?
Holly, Brian, Fred, Tracy, and Melanie have income elasticities for veggie burgers as given below:
Person Income elasticity ...
If factor prices equal, slope of isoquant
In a frequency distribution, what percent of the total number of observations lies between the first and third quartiles?
If r xy = 0, then:
