Amartya Sen Believed That Development Should Be Assessed More by Measures

question 82

Multiple Choice

Amartya Sen believed that development should be assessed more by measures such as _______________.

• A) Aggregate demand
• B) Aggregate supply
• C) PPP
• D) HDI
• E) GNP

Understand the treasury stock approach in accounting for a subsidiary's investment in parent company stock.

Identify conditions under which companies can file consolidated income tax returns.

Recognize the implications of separate versus consolidated income tax filings.

Calculate goodwill in business acquisitions.

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Definitions:

Short Run

A period in which at least one factor of production is fixed, limiting the ability of the economy or firm to adjust to changes.

Long Run

A period of time in which all factors of production and costs are variable, allowing for full adjustment to change.

Marginal Cost Curve

The marginal cost curve graphically represents how the cost of producing one additional unit of a good changes as production volume varies.

Marginal Product

The increased output achieved by adding one more unit of a certain input, with all other inputs held steady.