Completeness: It is assumed that any two bundles can be compared. That is to say that the consumer can make a choice
Reflexive: we assume that any bundle is at least as good as itself
Transitive: if a consumer assumes that bundle X is at least as good as bundle Y and bundle Y is at least as good as bundle Z then bundle X is at least as good as bundle Z.
Dana05 answered the question on August 15, 2019 at 13:58
- How do price and income policies control inflation(Solved)
How do price and income policies control inflation
Date posted: August 15, 2019. Answers (1)
- How do monetary policies control inflation(Solved)
How do monetary policies control inflation
Date posted: August 15, 2019. Answers (1)
- How do fiscal policies control inflation(Solved)
How do fiscal policies control inflation
Date posted: August 15, 2019. Answers (1)
- What are consumer preferences?(Solved)
What are consumer preferences?
Date posted: August 15, 2019. Answers (1)
- State the various policies used as remedies of inflation (Solved)
State the various policies used as remedies of inflation
Date posted: August 15, 2019. Answers (1)
- Highlight the external effects of inflation (Solved)
Highlight the external effects of inflation
Date posted: August 15, 2019. Answers (1)
- Identify the internal effects of inflation (Solved)
Identify the internal effects of inflation
Date posted: August 15, 2019. Answers (1)
- Highlight the methods used to correct the trade deficit in the J curve phenomenon (Solved)
Highlight the methods used to correct the trade deficit in the J curve phenomenon
Date posted: August 14, 2019. Answers (1)
- Describe the J curve phenomenon (Solved)
Describe the J curve phenomenon
Date posted: August 14, 2019. Answers (1)
- Differentiate between the flexible and fixed exchange rate regimes (Solved)
Differentiate between the flexible and fixed exchange rate regimes
Date posted: August 14, 2019. Answers (1)
- Define the following terms: Exchange rate, Depreciation of the currency, Devaluation Appreciation, Terms of trade (Solved)
Define the following terms:
- Exchange rate
- Depreciation of the currency
- Devaluation
- Appreciation
- Terms of trade
Date posted: August 14, 2019. Answers (1)
- Briefly explain the factors that cause a shift in the balance of payments curve (Solved)
Briefly explain the factors that cause a shift in the balance of payments curve
Date posted: August 14, 2019. Answers (1)
- Why is the balance of payments curve positively sloped (Solved)
Why is the balance of payments curve positively sloped
Date posted: August 14, 2019. Answers (1)
- What is the balance of payments made up of?(Solved)
What is the balance of payments made up of?
Date posted: August 14, 2019. Answers (1)
- Give the definition of balance of payments (Solved)
Give the definition of balance of payments
Date posted: August 14, 2019. Answers (1)
- Explain the factors that cause changes in the general equilibrium (Solved)
Explain the factors that cause changes in the general equilibrium
Date posted: August 14, 2019. Answers (1)
- The following equation describe a certain economy
C = 400+ 0.75T
I = 200 - 100r
T = 70 + 0.2Y
G = 100
Money supply = 4000
Money demand...(Solved)
The following equation describe a certain economy
C = 400+ 0.75T
I = 200 - 100r
T = 70 + 0.2Y
G = 100
Money supply = 4000
Money demand = 0.2Y – 10r
Find the values of Y, C, T, M and I
Date posted: August 14, 2019. Answers (1)
- What is the effect of decrease in income on the interest rate?(Solved)
What is the effect of decrease in income on the interest rate?
Date posted: August 14, 2019. Answers (1)
- What is the effect of increase in income on the interest rate?(Solved)
What is the effect of increase in income on the interest rate?
Date posted: August 14, 2019. Answers (1)
- What is the effect of decrease of money supply on the interest rate?(Solved)
What is the effect of decrease of money supply on the interest rate?
Date posted: August 14, 2019. Answers (1)