Tobin tax is one of the applicable to
A. Export
B. Import
C. Transactions in foreign exchange
D. Sales
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Which one is the technique of measuring elasticity of demand?
A. Total outlay method
B. Arc method
C. Point method
D. All of these
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Cross demand is the change in the quantity demanded of a given commodity in response to the
A. change in the Utility of another commodity
B. change in the price of another commodity
C. change in the nature of another commodity
D. change in the size of another commodity
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Which of the following pairs is not correctly matched?
A. Adam Smith ⇔ The wealth of nations
B. Canon ⇔ Funds
C. Marshall ⇔ Principle of economics
D. Robbins ⇔ Political economy
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The costs that depend on the output in the short run are
A. Total variable cost
B. Both, total variable costs and total costs
C. Total cost only
D. Total fixed cost only
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According to Malthus population grows
A. Arithmetically
B. Geometrically
C. At constant rate
D. None of the above
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When average cost falls, as a result of increase in output the marginal cost is:
A. More than average cost
B. Less than average cost
C. Equal to average cost
D. None of the above
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Income elasticity is computed by the formula
A. e i = P 1 Q 1 − Q 2
B. e i = Y 1 Y 2 − Y 1 Q 1 Q 2 − Q 1
C. e i = Q 1 Q 2 − Q 1 × Y 2 − y Y 1 × 100
D. e i = Y 2 − Q 2 Y 1 − Q 1
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'Extra - mural' activities relates to:
A. Safety
B. Welfare
C. Health
D. None of these
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Cross elasticity of complementary goods is
A. negative
B. zero
C. infinite
D. unitary
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The short-run cost function of a firm is as follows:
TC = 200 + 5Q + 2Q2
Where TC = Total Cost, Q = Physical units of the product of the firm
What would be the level of optimum output ?
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"Money is the pivot around which the economic science clusters." This statement was stated by:
A. Adam Smith
B. Alfred Marshall
C. J. M. Keynes
D. Koutilya
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Which one is odd?
A. Economic Policies
B. Economic Planning
C. Socio-cultural factors
D. Macro-economic scenario
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In monopolistic competition
A. There are some firms selling differentiated product
B. There are many firms selling similar goods
C. There are some firms selling same product
D. There are many firms selling differentiated product
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A firm having least cost combination is-
A. Optimum Firm
B. Equilibrium Firm
C. Representative Firm
D. Marginal Firm
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Which of the following prosperity rate is affected by population growth in Harrod model?
A. Real rate
B. Natural rate
C. Deprieved rate
D. None of the above
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Under a simple Cournot duopoly model, each duopolist will produce
A. half the output
B. one-fourth the output
C. one-third the output
D. one-fifth the output
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With reference to indifference curve, which of the following statement is/are correct?
1. It represents all those combinations of goods which give same satisfaction to consumer.
2. A consumer selects or buy the combination of equilibrium goods that maximise utility.
Select the correct answer
A. Only 1
B. Only 2
C. Both 1 and 2
D. Neither 1 nor 2
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Which one of the following formulae based on the given diagram would be appropriate for measuring the elasticity of demand at point R?
A. S B R S = R A R S = P U O U
B. R A R S = S B R S = O U P U
C. R B R A = O B O Q = P O P A
D. R A R B = O Q QB = P A O P
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Arrange the following in chronological order.
1. Diminishing returns
2. Negative returns
3. Increasing returns
A. 1, 2, 3
B. 3, 2, 1
C. 2, 3, 1
D. 3, 1, 2
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