Archive for August, 2007
Sunday, August 19th, 2007
Cost Theory: fixed, variable, total, average and marginal costs
Economists try to use language precisely. The words cost and price are often confused. When we discuss costs we mean, how much did something cost to produce. This might be expressed as an opportunity cost, or in a currency such as dollars. ...
Posted in Micro Economics | No Comments »
Sunday, August 19th, 2007
1- Which one of the five choices makes the best comparison? SHOP is to POSH as 6324 is to:
2346
6432
4236
3326
6342
2- Which one of these is least like the four?
Dog
Kangaroo
Goat
Cow
Donkey
3- Ecstasy is the opposite of:
Healthy
Deep
Skillful
Sad
Happy
4- Sarah likes 400 but not 300; she likes 100 but not 99; she likes 3600 ...
Posted in General Knowledge | No Comments »
Friday, August 10th, 2007
INFLATION:
Inflation means a sustained rise in prices. A situation is said to be an inflationary situation when, either the prices of goods and services or money supply rise. Friedman mentioned inflation as ‘always a monetary phenomenon’. But most of the economists today (including me), do not agree that money supply ...
Posted in Macro Economics | 2 Comments »
