Demand-pull inflation is likely to be caused by
An increase in the cost of factor inputs
Increase in the income tax rate
Increase in bank lending rate
Increasingly large budget deficit
Correct answer is D
Demand-pull inflation occurs when there is excess demand of goods over supply. Excessive demand is a consequence whereby consumers have money purchasing power to buy goods and services.
In a country with large population of full-time house wives, national income
Will be composed of goods produced by women
Figures will be grossly over-stated
Statistics will be difficult to calculate
Figures will be grossly under-estimated
Correct answer is B
In a country with large population of full-time housewives, national income figures will be grossly over-stated because the income of the housewives may be computed in estimation of National Income which result to double counting.
$302.00
$52.00
$18.00
$622.00
Correct answer is C
Value added by the baker simply means profit which is calculated thus, profit= selling price - cost price
= $320 - (250 + 52)
= $320 - 302
Profit = $18
Positive check as envisaged by Thomas Malthus can be prevented if
Death rate is reduced
Moral restraint abolished
More hospitals are built
There is natural calamities
Correct answer is D
The positive checks are: famine, war, disease, pestilence, floods and other natural calamities. To control over population resulting from the imbalance population and food supply, Malthus suggested preventive and positive checks.
If workers at the school canteen cannot sell during the holidays, this is example of
Structural unemployment
Frictional unemployment
Seasonal unemployment
Residual unemployment
Correct answer is C
Seasonal unemployment occurs in industries or activities that are seasonal in nature. Such activities engage labour temporarily during the peak period.