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ACC - Which of the following statements is correct if there is an increase in the resources




Question;Question 23Which of the following statements is correct if there is an increase in the resources available within an economy?Answer:More goods and services will be produced in the economyThe economy will be capable of producing more goods and servicesThe standard of living in the economy will riseThe technological efficiency of the economy will improve;Question 24 What is the most likely impact of government borrowing to finance deficits that increases the demand for loan funds?Answer:Decrease in the supply of loan fundsDecrease interest ratesIncrease the ease with which businesses can borrow fundsIncrease interest rates;Question 25 Marginal utility:Answer:Decreases when consumption expandsIncreases when consumption expandsIndicates that a high consumption quantity is preferred to a low consumption quantityIndicates that consumption decreases over time;Question 26 Which of the following are not assumptions of classical economic theory?Answer:Flexible interest rates allow self-correcting equilibrium of savings and investingFlexible prices allow self-correcting of shortages and surpluses in product marketsFull employment is not necessarily an attribute of equilibriumAn increase in money leads to an increase in aggregate demand;Question 27 What will be the likely result of a decline in the value of the U.S. dollar relative to the currencies of the United States' trading partners?Answer:The U.S. trade deficit will increaseU.S. imports will increaseU.S. exports will increaseForeign currencies will depreciate compared to the U.S. dollar;Question 28 The labor market for masons is competitive and stable. What is the likely short-term result of an attempt to increase masons' wages?Answer:Decreased employment levelsDecreased employer sizeIncreased employer sizeIncreased labor supplied;Question 29 What increases when U.S. commercial banks increase net deposits?Answer:Purchasing power of the U.S. dollarReal U.S. national incomeReal wealth of the U.S.U.S. money supply;Question 30 A file containing relatively long-term information used as a source of reference and periodically update with detail is termed a Answer:Record layoutDumpMaster fileTransaction file;Question 31 The process of developing specifications for hardware, software, manpower, data resources, and information products required to develop a system is referred to as Answer:System analysisSystems feasibility studySystems maintenanceSystem design


Paper#44132 | Written in 18-Jul-2015

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