Author: Study Clue

According to the classical economists, full employment is achieved when A Aggregate demand equals aggregate supply B All willing workers

Money market refers to the market for A Long-term funds B Medium-term funds C Short-term funds D Equity shares Explanation

A bank is best described as an institution that A Prints currency B Accepts deposits and advances loans C Controls

Inflation refers to A Fall in general price level B Rise in general price level over time C Rise in

Money is best defined as anything that A Is issued by the government B Has intrinsic value C Is generally

National income statistics are primarily used to A Fix individual wages B Measure economic performance of a country C Control

One major difficulty in measuring national income in developing countries is A Excessive documentation B Large non-monetized sector C High

The product method of measuring national income is also known as A Value-added method B Income method C Expenditure method

National income refers to A Total money supply in an economy B Total value of final goods and services produced

Collusive oligopoly refers to a situation where firms A Compete independently B Follow perfect competition C Cooperate to fix price