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Economics Past Questions and Answers

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Economics Questions

Question 3271:

The production possibility curve (PPC) indicates that as more of one good is produced.

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A Less of the other goods is produced
B The same quantity of the other good is produced
C More of the other good is produced
D None of the other good is produced

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Question 3272:

An arrangement of data in rows and columns is referred to as

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A Graph
B Bar chart
C Pie chart
D Table

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Question 3273:

A normal demand curve slopes

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A Downward from left to right
B Upwards from right to left
C Downwards from right to left
D Upwards from left to right

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Question 3274:

The co-efficient of income elasticity of demand for inferior goods is

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A Positive
B Equal to one
C Less than one
D Negative

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Question 3275:

If a 20% rise in price of Whiskey leads to a 30% increase in quantity demanded of Schnapps, the cross elasticity of demand is

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A 3.0
B 2.5
C 2.3
D 1.5

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