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MCQs

Total Questions : 874 | Page 17 of 88 pages
Question 161. Effective demand depends upon
  1.    Desire for the commodity
  2.    Means to purchase
  3.    Willingness to use those means for that purchase
  4.    All of the above
 Discuss Question
Answer: Option D. -> All of the above
Question 162. Quantity demanded is a
  1.    Flow concept
  2.    Stock concept
  3.    Both 'a' and 'b'
  4.    None of the above
 Discuss Question
Answer: Option A. -> Flow concept
Question 163. At shut down point
  1.    Price is equal to AVC
  2.    Total revenue is equal to TVC
  3.    Total loss of the firm is equal to TFC
  4.    All of the above
 Discuss Question
Answer: Option D. -> All of the above
Question 164. The other name of Budget line is
  1.    Demand line
  2.    Price line
  3.    Supply line
  4.    None of the above
 Discuss Question
Answer: Option B. -> Price line
Question 165. The LAC curve
  1.    Falls when the LMC curve falls
  2.    Rises when the LMC curve rises
  3.    Goes through the lowest point of the LMC curve
  4.    Falls when LMCLAC
 Discuss Question
Answer: Option D. -> Falls when LMCLAC
Question 166. Normal goods have
  1.    Positive income elasticity
  2.    Negative income elasticity
  3.    Fluctuating income elasticity
  4.    Zero income elasticity
 Discuss Question
Answer: Option A. -> Positive income elasticity
Question 167. If the goods are complementary like car and petrol, their cross elasticity is
  1.    Negative
  2.    Positive
  3.    Zero
  4.    Infinite
 Discuss Question
Answer: Option A. -> Negative
Question 168. Identify the factor which generally keeps the price-elasticity of demand for a good high.
  1.    Its very high price
  2.    Its very low price
  3.    Large number of substitutes
  4.    None of the above
 Discuss Question
Answer: Option C. -> Large number of substitutes
Question 169. The slope of indifference curve indicates
  1.    Price ratio between two commodities
  2.    Marginal rate of substitution
  3.    Factor substitution
  4.    Level of indifference
 Discuss Question
Answer: Option B. -> Marginal rate of substitution
Question 170. The total area under the demand curve of good measures
  1.    Marginal utility
  2.    Total utility
  3.    Consumers surplus
  4.    Producer surplus
 Discuss Question
Answer: Option B. -> Total utility

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