Telegram group: T.me/BBCNOUN ====== ECO712 ====== 1. In the function, S = -a - βY, β represents MPC --->> MPS APC APS 2. The consumption function is written implicitly as _____ --->> C = f(Y) C = a + bY C = bY C = Y 3. The Speculative motive for the demand for the money is a function of ____ Price Income --->> Interest rate Investment 4. The medium of exchange is a function of money as seen by ____ school of thought Monetarist Modern Quantity theorists Marginalist --->> Keynesian 5. Disposable Income is known as the personal income less personal ____ Disposable Tax Value Added Tas --->> Income Tax None of the options 6. Duesenberry posited that aggregate cash flow is the main determinant of _____ --->> Investment Interest rate Money supply Consumption 7. The value of gross national product less capital consumption allowance is referred to as ___ Gross Domestic Product National Income Gross National Product --->> Net National Product 8. Which of these is property of money Unit of account Medium of exchange Store of value --->> Limited supply 9. Money that is not a commodity and it is not redeemable in any commodity is referred to as ____ --->> Fiat money Token money Paper money Legal tender 10. ___ shows the relationship between unemployment and inflation IS curve LM curve --->> Philip curve Gini coefficient curve