Reduction in spending in the face of competing alternative
Allocation of resources to alternative uses
Economic behaviour of small units like the household and the firm
The study of economic aggregates like inflation and national income
Correct answer is B
No explanation has been provided for this answer.
The most acceptable economic measure for trade protection is to
Improve standards of living
Protect infant industries
Safegard strategic industries
Promote foreign trade
Correct answer is B
No explanation has been provided for this answer.
Favourable terms of trade is important to a country because it facilitates
Economic prosperity for importers and exporters
Export of hard currency by the government
Economic prosperity for country
Import of hard currency by the government
Correct answer is C
No explanation has been provided for this answer.
Comparative advantage
Absolute advantage
Distributive cost advantage
Absolute cost advantage
Correct answer is A
No explanation has been provided for this answer.
Devaluation helps in checking adverse balance of payments if the
Demand for imports is elastic
Demand for imports is inelastic
Supply of exports is elastic
Demand for exports is inelastic
Correct answer is A
No explanation has been provided for this answer.