Other Economics Answers

What type of goods are gas and electricity if the cross elasticity of demand between these two goods are positive?

•  A. inferior goods
•  B. complements
•  C. substitutes
•  D. normal goods

You are told that cabbage is an inferior good. This implies that

A. the income elasticity will be greater than 1.

B. the income elasticity will be negative.

C. the income elasticity is infinity.

D. the income elasticity is greater than 0 but less than 1

The income elasticity of the demand for shoes is 0,6. Shoes are

•  A. a normal but inferior good.
•  B. a normal and luxury good.
•  C. an inferior and necessary good.
•  D. a normal and necessary good.

Suppose the cross-elasticity of demand between two products, A and B, is positive. If there is a fall in the cost of producing good B, the quantity demanded will

A. increase for both goods.

B. decrease for good A and increase for good B.

C. increase for good A and decrease for good B.

D. decrease for both goods.

"Online assessment has become necessary in the implementation measures to combat the spread of covid- 19 pandemic in Ghana's higher educational institutions" . Examine the extent to which this new practice violates the principles of assessment in economics.

1.     Harrod asked a number of fundamental questions for the understanding of the growth performance of any country, be it developed or underdeveloped, namely: if changes in income induce investment, what must be the rate of growth of income for plans to invest to equal plans to save in order to ensure a moving equilibrium in a growing economy through time? In static Keynesian theory, if growth equilibrium is disturbed, will it be self-correcting or self-aggravating? And will this equilibrium rate be equal to the maximum rate of growth that the economy is able to sustain given the rate of growth of productive capacity? Analyse the various ways in which Harrod considered these questions?

2. Suppose that an exogenous disturbance, such as a change in government policy, leads to a balance of payments deficit and a consequent fall in the exchange rate. Discuss the effects of the new exchange rate level on the balance of payments and the exchange rate.