Economics Answers

3 Explain SEVEN (7) conditions necessary for a perfectly competitive market to exist.

An international gold standard system was re-established in the late 1920s, as other countries
followed the UK’s lead and made their own currencies convertible again (though not necessarily
at their pre-war rates). Discuss the factors that contributed to the system’s collapse in 1931.

Can you tell me the name of economic model?
USD/CAD (1-year) = z + a(INT) + b(GDP) + c(IGR)

A decrease in the tax rate in the keynesian model will...
1)shift the aggregate spending curve downwards
2)shift the consumption curve upwards
3)swivel the consumption curve downwards
4)swivel the aggregate spending curve upwards

Which of the following statements is correct about the keynesian model with a government sector?
1)a decrease in interest rate will lead to a decrease in the equilibrium level of income.
2)an increase in consumption spending will lead to a decrease in investment spending.
3)an increase in the tax rate will lead to an increase in the equilibrium level of income.
4)an increase in the marginal propensity to save will lead to a decrease in the equilibrium level of income.

Complete the following sentence. Investment spending will...if the...decreases.
1)increase;tax rate
2)decrease;government spending
3)remain unchanged;level of income
4)remain unchanged;interest rate

Which of the following statements is correct regarding consumption and saving in the Keynesian mode?

1) If autonomous consumption decreases, consumption spending will remain the same, Ceteris paribus.
2) An increase in consumption spending will result in a proportional increase in saving.
3) If the initial income is zero, the total consumption will be equal to total saving.
4) If total consumption exceeds total income, this is an indication of dissaving.

tomatoes has a price demand the total revenue of tomato firms will

Explain why the illustration of realtors not maximizing sales price for sellers would be an economic topic.

The accounting period of Meander Enterprises ends on the last day of February each year. On the 28 February 2017, the total of the rent expense account was 41 100. Rent was paid up to 31 March 2017. Note: Rent expense increased by 10% with effect from 1 September 2016. Which will be the correct journal entry to adjust the rent expense account on 28 February 2018?