Basics of Economics

M

Mr. Dubey • 51.17K Points
Coach

Q 41. Which of the following is true?

(A) gnp + depreciation = nnp
(B) gnp = gdp + net factor income from abroad
(C) ndp = gnp minus net indirect taxes
(D) nnp = dgp minus depreciation
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M

Mr. Dubey • 51.17K Points
Coach

Q 42. The difference between GDP and NDP equals:

(A) transfer payments
(B) net indirect taxes
(C) net factor income from abroad
(D) depreciation
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M

Mr. Dubey • 51.17K Points
Coach

Q 43. National Income means:

(A) gnp at factor cost
(B) gnp at market price
(C) nnp at factor cost
(D) nnp at market price
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M

Mr. Dubey • 51.17K Points
Coach

Q 44. 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 • 51.17K Points
Coach

Q 45. There is ------- relationship between price and quantity supplied

(A) positive
(B) negative
(C) constant
(D) inverse
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M

Mr. Dubey • 51.17K Points
Coach

Q 46. When MC is greater than AC, AC

(A) rises
(B) falls
(C) maximum
(D) minimum
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M

Mr. Dubey • 51.17K Points
Coach

Q 47. The cost of next best alternative is called

(A) marginal cost
(B) average cost
(C) opportunity cost
(D) direct cost
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M

Mr. Dubey • 51.17K Points
Coach

Q 48. A fall in the market demand, supply remaining the same results in

(A) increase in equilibrium price
(B) increase in equilibrium quantity
(C) increase in equilibrium price and decrease in equilibrium quantity
(D) both equilibrium price and quantity falls
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M

Mr. Dubey • 51.17K Points
Coach

Q 49. There is no distinction between firm and industry in

(A) perfect competition
(B) monopoly
(C) monopolistic competition
(D) oligopoly
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M

Mr. Dubey • 51.17K Points
Coach

Q 50. An increase in market demand, supply remaining the same results in

(A) decrease in equilibrium price
(B) decrease in equilibrium quantity
(C) decrease in equilibrium price and increase in equilibrium quantity
(D) both equilibrium price and quantity rises
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