Question 4561:

Economics can best be defined as the study of ____________

A. How to spend the family income efficiently
B. How to find minimum cost of production
C. The interpretation of scarce resources and date
D. How scarce resources can be used efficiently

Question 4562:

Which of the following is specialized in lending money for the purpose of developing real estate?

A. Commercial banks
B. Central bank
C. Mortgage banks
D. Merchant banks.

Question 4563:

Factors of production can be described as the ____________

A. Resources required for the provision of goods and services
B. Skills involved in deciding and directing the flow of goods
C. Monetary tools employed by government to ensure stable production
D. Elements involved in the process of formulating polices on production

Question 4564:

The systemic record of the various levels and types of economic activities is Called ____________

A. Gross national product
B. National income accounting
C. The budget
D. Census.

Question 4565:

When the rate of inflation increases ____________

A. Savings will increase
B. Income will increase
C. Savings will decrease
D. Prices will decrease