Mr Smith has a limited income which restricts the number of different goods he can buy. Which one of the following best describes the position at which Mr Smith's utility from purchasing different goods is maximised?
Monetary policy is a government economic policy relating to:
1 Interest rates
2 Taxation
3 Public borrowing and spending
4 Exchange rates
Which of the above are correct?
Which of the following organisations might benefit from a period of high price inflation?
Which of the following are the goals of macroeconomic policy?
1 Encouraging economic growth
2 Low unemployment
3 Achievement of a balance between exports and imports
4 Achieving zero inflation
Which of the following is an example of cyclical unemployment?
A surplus on the balance of payments usually refers to a surplus or deficit on the account.Which word correctly complete this statement?
Northland, Southland, Eastland and Westland are four countries of Asia. The following economic statistics have been produced for the year 2007.
Which country experienced stagflation in the relevant period?
____economic growth is determined by supply-side rather than by demand side factors.Which word correctly completes this statement?
In a free market economy, the price mechanism:
The supply curve of a firm operating in a competitive market is its