Managerial Economics - Study Mode

[#156] "Labour and capital of the country acting on it's natural resources produce annually a certain net aggregate of commodities including services of the kinds. This is the true net annual income of the country" is given by
Correct Answer

(A) Alfred Marshall

[#157] Inflation brings most benefit to which one of the following?
Correct Answer

(C) Debtors

[#158] Goods X and Y are perfect substitutes. A consumer's indifference curve for these commodities is represented by a/an
Correct Answer

(D) downward sloping straight line

[#159] GNP can be calculated as
Correct Answer

(B) GDP + Net factor income from abroad

[#160] Emperical evidence has shown that due to technological changes and 'learning by doing' trends, the shape of LAC curve has changed from
Correct Answer

(A) U shaped to L shaped