A major determinant of the demand for a luxury good is____________?
The price of other goods
The price of the good
Tastes and fashion
The income of consumers
Correct answer is D
Luxury goods are goods whose demand increases as the consumer's income increases. That means that when consumer income increases, they purchase more of these goods and vice versa. The major determinant of a luxury good is the income of the buyer.
The savings deposit in a commercial bank is called____________?
Near money
Call money
Capital
Fund
Correct answer is C
No explanation has been provided for this answer.
The ultimate objectives of economics is to_________?
Decide under what circumstances that government should intervene in the economy
Organize production at the lowest cost
Make the best use of scarce resources
Make efforts to understands how the economy works
Correct answer is C
No explanation has been provided for this answer.
If the standard deviation of a given data is 8.2, find its variance_______________
82.0
91.8
67.2
4.1
Correct answer is C
No explanation has been provided for this answer.
Commercial bank reserves at the Central Bank___________
Advancing trade prospects
Controlling credit and money supply
Reducing bank frauds
Discouraging banking operations
Correct answer is B
No explanation has been provided for this answer.