1. An increase in the consumer income leads to a decrease in demand of which type of good ?
Anonymous Quiz
14%
[A] normal good
27%
[B] complementary good
41%
[C] inferior good
17%
[D] substitute good
2. Which of the following is a fixed cost to a manufacturing firm in short-run ?
Anonymous Quiz
27%
[A] Insurance on buildings
38%
[B] Overtime payment to worker
21%
[C] Cost of energy
14%
[D] Cost of Raw Material
3. Which among the following is complementary good ?
Anonymous Quiz
38%
[A] Petrol and Car
35%
[B] Iphone and Android Phone
15%
[C] Milk and Sweet
12%
[D] Shoes and Sandals
4. What is the income elasticity of demand for inferior goods?
Anonymous Quiz
10%
[A] equal to 1
49%
[B] greater than 1
37%
[C] less than 0
3%
[D] greater than 0
5. Which if the following is subject matter of microeconomic study ?
Anonymous Quiz
31%
[A] Study of Cotton Textile Industry
35%
[B] General Price level of commodities
19%
[C] Problem of unemployment
15%
[D] Aggregate demand of the commodities
6. Which of the following is a subject matter of micro-economics ?
Anonymous Quiz
8%
[A] National Income
16%
[B] Gross Domestic Product
21%
[C] Level of Employment
54%
[D] Consumer Equilibrium
7. Which of the following is not a micro- economic variable ?
Anonymous Quiz
7%
[A] Demand of a commodity
8%
[B] Supply of a commodity
20%
[C] Price rise of a commodity
64%
[D] Employment generated in a year in a country
8. In terms of micro-economics, comparative advantage is based on which of the following ?
Anonymous Quiz
13%
[A] dollar price
21%
[B] labor cost
48%
[C] opportunity cost
17%
[D] capital cost
9. Which of the following is considered as transfer payment?
Anonymous Quiz
2%
[A] College fees
11%
[B] Bank loan
29%
[C] Bonus of employees
58%
[D] Unemployed allowance by the government
10. Which among the following is part of Macroeconomics?
Anonymous Quiz
12%
[A] Investment of households
14%
[B] Wages of a person
9%
[C] fuel efficiency
66%
[D] Aggregate economic activity
11. Which of the following are correct for Real GDP ?
Anonymous Quiz
21%
[A] Current year production valued at current prices
64%
[B] Current year production valued at base year
9%
[C] Current year production valued at last year prices
6%
[D] Current year production valued at forecasted prices
12. Which of the following are part of National income ?
Anonymous Quiz
80%
[A] Value of all goods and services produced in a financial year
13%
[B] An reused good sold in that financial year
4%
[C] Service rendered by housewife
4%
[D] None of the above
13. Which of the following are part of Gross National Product(GNP)?
Anonymous Quiz
3%
[A] Imports
7%
[B] Exports
27%
[C] Money earned by resident abroad
63%
[D] All of the above
14. Real National income increases in which of the following circumstances?
Anonymous Quiz
2%
[A] When Prices of goods increases
9%
[B] When saving of people increases
36%
[C] When Inflation increases prices and taxes
53%
[D] When the production of goods and services increases
15. What does a good with positive externalities known as ?
Anonymous Quiz
30%
[A] Giffen goods
21%
[B] Public goods
44%
[C] Merit goods
5%
[D] Snob good
16. Which of the following is included in market price ?
Anonymous Quiz
53%
[A] Indirect taxes
19%
[B] Direct taxes
16%
[C] Subsidies
12%
[D] None of the above
17. What is subtracted from personal income to get personal disposable income?
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32%
[A] Indirect taxes
50%
[B] Direct taxes
16%
[C] subsidies
1%
[D] None of the above
18. Which among the following is an example of substitute goods ?
Anonymous Quiz
7%
[A] Milk and Coffee
7%
[B] Pen and Paper
19%
[C] Ink and Pen
66%
[D] Tea and coffee
19. What is marginal utilty in economics signify?
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7%
[A] Small utlity
32%
[B] Additional utlity
44%
[C] Minimum utility
17%
[D] Satisfied utilty