Crowdly
Add to Chrome
EC4006 2425 (T2) Fundamentals of Economics (OC)
Looking for EC4006 2425 (T2) Fundamentals of Economics (OC) test answers and solutions? Browse our comprehensive collection of verified answers for EC4006 2425 (T2) Fundamentals of Economics (OC) at moodle.uel.ac.uk.
Get instant access to accurate answers and detailed explanations for your course questions. Our community-driven platform helps students succeed!
In a country, the following components of aggregate demand (AD) are given:
- Consumption (C) = £400 billion
- Investment (I) = £200 billion
- Government Spending (G) = £300 billion
- Exports (X) = £150 billion
- Imports (M) = £100 billion
Calculate the net exports for the country.
Your answer is billion?
A good or service would be considered as an inferior if its income elasticity of demand is:
If the quantity demanded increases from 100 to 150 when the price decreases from $10 to $8, calculate the price elasticity of demand.
In a country, the total labour force is 1,500,000. The unemployment rate is 12%. If the number of employed individuals increases by 50,000, what will the new unemployment rate be? (Give your answer to the nearest 2 decimal places).
Consumer surplus is:
The free rider problem occurs: