The formular used by the Expenditure approach to calculate National income is
Y= C + I + X - M –G
Y= C + X – M – I + G
Y = C + I + G + X – M
Y = C – I + X – M + G
Y = C + G – X + M – I
Correct answer is C
No explanation has been provided for this answer.
In a two-sector economy, income is a function of
Consumption + investment
consumption + Investment + tax
Consumption + investment + expenditure
Consumption + exports + imports
Saving + investment
Correct answer is A
No explanation has been provided for this answer.
Elastic demand
Inelastic demand
Negative demand
Positive demand
Unitary demand
Correct answer is B
No explanation has been provided for this answer.
Capitalism
Communism
Socialism
Traditionalism
Welfarism
Correct answer is A
Capitalism is an economic system in which private individuals or businesses own capital goods, and decide what and how to produce goods.
Long-run in economic mean a period of time in which
All factor inputs are not being used
All factor inputs are variable
All factor inputs are fixed
Only few factor inputs are variable
Firms are not producing at all
Correct answer is B
No explanation has been provided for this answer.