Correct Answer: C) Central bank rate on the money borrowed by commercial banks

Explanation

The question is asking about the meaning of discount rate. The options are given as: A) rate at which money are borrowed from commercial bank, B) rate at which bank receive deposit from the public, C) central bank rate on the money borrowed by commercial banks (which is the correct option), and D) commercial bank rate on the money borrowed from other commercial bank.

Discount rate is the rate at which the central bank lends money to commercial banks. When commercial banks need money, they can borrow from the central bank at the discount rate. This is an important tool for the central bank to manage the money supply in the economy.

Option A, rate at which money are borrowed from commercial bank, is incorrect as this is the commercial bank lending rate to customers, not the discount rate. Option B, rate at which bank receive deposit from the public, is also incorrect as this is the interest rate paid by banks to customers on their deposits, not the discount rate. Option D, commercial bank rate on the money borrowed from other commercial bank, is also incorrect as this is the interbank lending rate, not the discount rate.

In summary, the correct answer is option C, central bank rate on the money borrowed by commercial banks.

Correct Answer: A. perfectly price inelastic

Explanation

An economic situation in which the price of a product will have no effect on the supply. In a perfectly inelastic situation regardless of the amount of a product on the market, the price of the product remains the same.

Correct Answer: D. the value of a commodity

Explanation

An ad valorem tax (Latin for according to value) is a tax whose amount is based on the value of a transaction or of property. It is typically imposed at the time of a transaction, as in the case of a sales tax or value-added tax (VAT)

Correct Answer: B. variable cost will decline

Explanation

If a firm retrenches some of its factory workers, its variable cost will decline. This is because variable costs are costs that vary with the level of output. When the number of workers is reduced, the amount of variable costs will also be reduced.

Correct Answer: C. privatization

Correct Answer: A. C + 1 + G(X-M)

Correct Answer: D. authorized capital

Correct Answer: B. output and all inputs change by the same percentage

Correct Answer: A) GDP per capital

Explanation

This Economics question is asking about the best measure of economic well-being in any economy. The options given are GDP per capita, GDP, GNP, and National Income.

GDP per capita is the total Gross Domestic Product (GDP) of a country divided by its population. GDP measures the total value of goods and services produced in a country in a given period of time. GNP, on the other hand, is the total value of goods and services produced by a country's residents regardless of their location. National Income is the total income earned by a country's factors of production, such as wages and profits.

Out of the given options, the correct answer to this question is Option A: GDP per capita. This is because GDP per capita takes into account the population of a country, giving a more accurate representation of the economic well-being of the individuals in the country.

It is important to note that while GDP and GNP are commonly used measures of economic well-being, they do not necessarily accurately represent the economic well-being of individuals in a country. For example, a country with a high GDP may still have a high poverty rate and income inequality.

In summary, GDP per capita is the best measure of economic well-being in any economy as it takes into account the population of a country. However, it is important to consider other factors such as poverty and income inequality when evaluating the economic well-being of individuals in a country.

Correct Answer: D. P = MR = MC

Explanation

In a perfectly competitive market, the firm's demand curve is the firm's marginal revenue curve. The firm maximizes profits by producing where MR = MC.