70. The money that businesses pay for resources constitutes A. The resource mark

Question

70. The money that businesses pay for resources constitutes A. The resource market B. The market for goods and services C. Part of the money market D. The supply of resources E. Income to households
75. Which of the following would NOT be considered a household? A. An unoccupied two bedroom house that is for sale B. Two college students sharing an apartment C. A family of three renting a townhouse D. A family of four living in a three bedroom house E. A single male living in a condominium
78. Which of the following does NOT constitute a consumption item? A. A Toyota Prius B. An iPad C. A calculator D. A tractor E. All of these are consumption items
79. Which of the following statements about industrial countries is TRUE? A. The economies of industrial countries do not depend on one another. B. The economies of industrial countries are interdependent C. Powerful industrial countries can afford to ignore the economic policies of other countries D. Economic conditions in an industrial country are unique to that country and cannot spread to others E. The flow of funds from one industrial country to another is highly restricted.
84. If 1 U.S dollar = 11.76 shillings, then one shilling equals A. $0.008 B. $3.92 C. $11.76 D. $.111 E. $0.085
85. A U.S financial account deficit means that the dollar amount of A. Foreign investments in the United States exceeds the dollar amount of U.S investments abroad B. U.S purchases of foreign financial assets and real property abroad is less than foreign purchases of U.S financial assets and real property in the United States. C. Imported goods exceeds that of exported goods D. U.S purchases of foreign financial assets and real property abroad exceeds foreign purchases of U.S financial assets and real property in the United States. E. U.S gifts to foreigners exceeds the amount of unilateral transfers Americans receive from abroad 70. The money that businesses pay for resources constitutes A. The resource market B. The market for goods and services C. Part of the money market D. The supply of resources E. Income to households
75. Which of the following would NOT be considered a household? A. An unoccupied two bedroom house that is for sale B. Two college students sharing an apartment C. A family of three renting a townhouse D. A family of four living in a three bedroom house E. A single male living in a condominium
78. Which of the following does NOT constitute a consumption item? A. A Toyota Prius B. An iPad C. A calculator D. A tractor E. All of these are consumption items
79. Which of the following statements about industrial countries is TRUE? A. The economies of industrial countries do not depend on one another. B. The economies of industrial countries are interdependent C. Powerful industrial countries can afford to ignore the economic policies of other countries D. Economic conditions in an industrial country are unique to that country and cannot spread to others E. The flow of funds from one industrial country to another is highly restricted.
84. If 1 U.S dollar = 11.76 shillings, then one shilling equals A. $0.008 B. $3.92 C. $11.76 D. $.111 E. $0.085
85. A U.S financial account deficit means that the dollar amount of A. Foreign investments in the United States exceeds the dollar amount of U.S investments abroad B. U.S purchases of foreign financial assets and real property abroad is less than foreign purchases of U.S financial assets and real property in the United States. C. Imported goods exceeds that of exported goods D. U.S purchases of foreign financial assets and real property abroad exceeds foreign purchases of U.S financial assets and real property in the United States. E. U.S gifts to foreigners exceeds the amount of unilateral transfers Americans receive from abroad A. The resource market B. The market for goods and services C. Part of the money market D. The supply of resources E. Income to households
75. Which of the following would NOT be considered a household? A. An unoccupied two bedroom house that is for sale B. Two college students sharing an apartment C. A family of three renting a townhouse D. A family of four living in a three bedroom house E. A single male living in a condominium
78. Which of the following does NOT constitute a consumption item? A. A Toyota Prius B. An iPad C. A calculator D. A tractor E. All of these are consumption items
79. Which of the following statements about industrial countries is TRUE? A. The economies of industrial countries do not depend on one another. B. The economies of industrial countries are interdependent C. Powerful industrial countries can afford to ignore the economic policies of other countries D. Economic conditions in an industrial country are unique to that country and cannot spread to others E. The flow of funds from one industrial country to another is highly restricted.
84. If 1 U.S dollar = 11.76 shillings, then one shilling equals A. $0.008 B. $3.92 C. $11.76 D. $.111 E. $0.085
85. A U.S financial account deficit means that the dollar amount of A. Foreign investments in the United States exceeds the dollar amount of U.S investments abroad B. U.S purchases of foreign financial assets and real property abroad is less than foreign purchases of U.S financial assets and real property in the United States. C. Imported goods exceeds that of exported goods D. U.S purchases of foreign financial assets and real property abroad exceeds foreign purchases of U.S financial assets and real property in the United States. E. U.S gifts to foreigners exceeds the amount of unilateral transfers Americans receive from abroad

Explanation / Answer

Q75. Household is defined as the living of one or more than one persons in the same dwelling whether as part of a single family or in some other grouping.

Households include shared houses, family houses, single living etc.

Thus, household consist of persons and house.

So, an unoccupied two bed room house that is for sale is not a household.

Hence, the correct answer is option (A).

Q78. Consumption item is that item which is used for fulfilling consumption needs or is a final good or service.

Tractor is not used for fulfilling consumption needs. On the other hand, it is used in production process and act as capital good.

Hence, the correct answer is option (D).

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