Which of the following is a leakage from the circular flow of income a. Mr X bought an Indian made television for Rs. 15,000. b. Mr Y bought a second hand T.V from his friend Z. c. Mr A imported a brand new Ferrari car from Germany for Rs 10 lakh. d. Mr B paid Rs 10,000 to his secretary as salary

Q: If a good is considered to be a normal good it has a relationship with income.

A: The good or services are the commodities that adds value. It satisfies the human wants by…

Q: D Suppose that the Just Right Coffee Company negotiates a $100,000 loan from the Blackhawks Bank and…

A: Money supply refers to the total amount of money in circulation in an economy over a given period of…

Q: Identify some reasons why household incomes differ. Which factors are the most important?

A: There are various factors that affect the income of households such as:

Q: Durable Goods are:     A. Goods that don't last   B. Goods that last a few days   C. Goods that…

A: Meaning of durable goods.

Q: What of the following is a way to help an individual pay lower interest rates on future loans? A for…

A: An interest rate is the amount of money that a borrower must pay a lender in exchange for borrowing…

Q: What is full price vs full income in household economics?

A: We are required to define full income and full price with regard to household economics.

Q: Gorgeousleny with an income of P150 would like to buy two goods. Let us say juice and bread. Price…

A: Two Products i.e. Juice and Bread Income = 150 Price of Juice = 12 Price of Bread = 6

Q: What is meant by the cost of living? Describe the cost of living in the state of New Jersey.

A: Cost of living can be explained as the money required for the expenses incurred on the basic…

Q: Read the following news article and then based on the research reported in the news clip explain how…

A: Meaning of Utility Function: The term utility function refers to the total utility for a consumer…

Q: If in an economy the quantity is 20 units and the price of the product is $52 find the income?

A: As per the question, Quantity is = 20 units Price is given as = $52 Income needed = ?

Q: Goods and services that are produced by a household and are not exchanged in a market are known as…

A: The statement is false. Goods and services that are produced by a household and are not exchanged in…

Q: riefly outline and explain some of factors that depend on line amount of a commodity a consumer os…

A: The dependent variable is Quantity demanded. The independent variables are Price and Income. We have…

Q: Question 12 Which of the following occurs in the factor market? Nathan spends $500 to buy a TV from…

A: Factors of production: - The inputs that are used to produce goods and services are known as the…

Q: Assume that Kim deposits $1,500 in currency in the Trusty Bank. Later that same day Akio negotiates…

A: Money supply refers to total monetary supply available at a point of time in economy.Money supply…

Q: Where do most people's largest portion of their personal income comes from?

A: People provide their services to the private, public and other sectors and receive benefits in terms…

Q: Identify each person with the appropriate classification Heather just finished college, is not…

A: The labor force refers to the pool of individuals who are willing to work. In the context of labor…

Q: Jevonte is saving money. Jevonte started with $21 and added $17.50 every week. Find the rate of…

A: You can escape life's uncertainties by saving money, which also gives you the chance to live a…