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- Question
In which of the following market forms a firm does not exercise control over price?
Options- A. Mixed Competition
- B. Monopoly
- C. Oligopoly
- D. Perfect Competition
- Correct Answer
- Perfect Competition
- 1. Amartya Sen was awarded the Nobel Prize for his contribution to
Options- A. Monetary Economics
- B. Welfare Economics
- C. Environmental Economics
- D. Development Economics Discuss
- 2. Which among the following sponsors Regional Rural Banks (RRB'S)?
Options- A. Reserve Bank of India
- B. Foreign Banks
- C. National Commercial Banks
- D. Co-Operative Banks Discuss
- 3. The long run aggregate supply curve is vertical because
Options- A. there is no cyclical inflation
- B. potential GDP is low
- C. at full employment prices are stable
- D. all of the above Discuss
- 4. The law of supply indicates that other things equal
Options- A. producers will offer more of a product at high prices than at low prices
- B. the quantity supplied of the good rises
- C. the quantity supplied of the good rises
- D. producers will offer more of a product at high prices than at low prices Discuss
- 5. A large underground economy results in an
Options- A. Overstated GDP
- B. Understated GDP price index
- C. Overstated GDP price index
- D. Understated GDP Discuss
- 6. The change in the optimal quantity of a good when its price changes and the consumer?s income is adjusted so that she can just buy the bundle that she was buying before the price change is called?
Options- A. Law of demand
- B. Substitution effect
- C. Problem of choice
- D. Optimal choice Discuss
- 7. IMF has predicted that the global economy would grow at _______ % in 2017.
Options- A. 5.5
- B. 4.5
- C. 3.5
- D. 2.5 Discuss
- 8. Which of the following will cause an increase in demand for a good?
Options- A. an increase in income if the good is an inferior goods
- B. a decrease in the price of the goods
- C. a decrease in income if the good is a normal goods
- D. an increase in the price of its substitute goods Discuss
- 9. ___________ is an alternative way of representing the production function.
Options- A. The Short Run
- B. The Long Run
- C. Isoquant
- D. Average product Discuss
- 10. Which one of the following is a development expenditure
Options- A. Irrigation expenditure
- B. Civil administration
- C. Debt services
- D. Grant in Aid Discuss
Indian Economy problems
Search Results
Correct Answer: Welfare Economics
Explanation:
Amartya Sen, Indian economist who was awarded the 1998 Nobel Prize in Economic Sciences for his contributions to welfare economics and social choice theory and for his interest in the problems of society's poorest members
Correct Answer: National Commercial Banks
Correct Answer: at full employment prices are stable
Explanation:
The long-run aggregate supply curve is vertical because it is at the full-employment or potential output. Because the economy's potential output is determined by the availability and productivity of real resources, not by the price level. That means that even if demand increases, firms can't hire new workers and expand because everyone is already working.
Correct Answer: producers will offer more of a product at high prices than at low prices
Correct Answer: Understated GDP
Correct Answer: Substitution effect
Correct Answer: 3.5
Correct Answer: an increase in the price of its substitute goods
Correct Answer: Isoquant
Correct Answer: Irrigation expenditure
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