Basics of Economics

M

Mr. Dubey • 51.27K Points
Coach

Q 1. Economic Laws are:

(A) statement of tendencies
(B) exact and predictable
(C) definite
(D) none
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M

Mr. Dubey • 51.27K Points
Coach

Q 2. Consumption of capital good in the process of production is called as:

(A) capital consumption
(B) depreciation
(C) decay of capital
(D) none of the above
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M

Mr. Dubey • 51.27K Points
Coach

Q 3. In classical theory the level of employment is a function of:

(A) price level
(B) money wage rate
(C) quantity of money
(D) real wage rate
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M

Mr. Dubey • 51.27K Points
Coach

Q 4. Laws of return shows ---------production function.

(A) short-term
(B) medium term
(C) long term
(D) annual
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M

Mr. Dubey • 51.27K Points
Coach

Q 5. Supply curve represents -------- relationship between quantity and price.

(A) direct
(B) inverse
(C) either direct or inverse
(D) none of the above
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M

Mr. Dubey • 51.27K Points
Coach

Q 6. The want satisfying power of a commodity:

(A) satisfaction
(B) utility
(C) value
(D) marginal utility
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M

Mr. Dubey • 51.27K Points
Coach

Q 7. Marginal efficiency of investment curve is:

(A) slopping downwards
(B) slopping upwards
(C) parallel to x axis
(D) parallel to y axis
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M

Mr. Dubey • 51.27K Points
Coach

Q 8. The expected return on investment is called:

(A) marginal propensity to save
(B) marginal propensity to consume
(C) marginal revenue
(D) marginal efficiency of investment
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M

Mr. Dubey • 51.27K Points
Coach

Q 9. As income increases consumption also increases, but:

(A) proportionately
(B) more than proportionately
(C) less than proportionately
(D) equally
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M

Mr. Dubey • 51.27K Points
Coach

Q 10. Exports minus imports is termed as:

(A) net income
(B) net imports
(C) net exports
(D) national income
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