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- Question
Microeconomics is the study of
Options- A. Decisions of individual firms
- B. Decisions of individual households
- C. Decisions of individual consumers
- D. All of the above
- Correct Answer
- All of the above
ExplanationMicroeconomics is the branch or subset of economics that deals with the study of Decisions of individual firms, households and consumers.
- 1. Business fluctuations refer to
Options- A. the ups and downs in overall business
- B. expansion is rapid
- C. contraction is severe
- D. None of the above Discuss
- 2. The goal of a market economy is to
Options- A. equity
- B. security
- C. Both A & B
- D. None of the above Discuss
- 3. The largest component of GDP is
Options- A. income
- B. wages
- C. consumption
- D. imports Discuss
- 4. In calculating the GDP national income accountants
Options- A. add increases in inventories or subtract decreases in inventories
- B. add exports, but subtract imports
- C. Both A & B
- D. None of the above Discuss
- 5. Consumer surplus arises in a market because
Options- A. some consumers are willing to pay more than the equilibrium price but do not need to do so
- B. some consumers are willing to pay less than the equilibrium price but do not need to do so
- C. at market price, the quantity demanded is less than the quantity supplied
- D. at market price, the quantity demanded is greater than the quantity supplied Discuss
- 6. Microeconomics is concerned with
Options- A. The electronics industry
- B. The study of individual
- C. The economy as a whole
- D. None of the above Discuss
- 7. The multiplier effect means that Discuss
- 8. Unemployment would cause an economy to
Options- A. produce outside its production possibilities frontier
- B. produce inside it's production possibilities frontier
- C. produce on it's production possibilites frontier
- D. All of the above Discuss
- 9. A negative supply shock in the short run causes
Options- A. the aggregate supply curve to shift to the left
- B. unemployment to fall
- C. the aggregate supply curve to shift to the right
- D. the price level to fall Discuss
- 10. Value added can be determined by Discuss
Indian Economy problems
Search Results
Correct Answer: the ups and downs in overall business
Explanation:
Business fluctuations refer to the ups and downs in overall business activity measured by changes in national? income, employment and the price level.
Correct Answer: equity
Correct Answer: consumption
Explanation:
Consumption is the largest component of GDP.
Correct Answer: add increases in inventories or subtract decreases in inventories
Correct Answer: some consumers are willing to pay more than the equilibrium price but do not need to do so
Correct Answer: The study of individual
Explanation:
Microeconomics is concerned with the study of individual firms, households, etc...
Correct Answer: The multiplier effect means that "An effect in economics in which an increase in spending produces an increase in national income and consumption greater than the initial amount spent"
Correct Answer: produce inside it's production possibilities frontier
Correct Answer: the aggregate supply curve to shift to the left
Explanation:
A negative supply shock in the sho rt run causes the aggregate supply curve to shift to the left.
Correct Answer: Value added is determined by the difference between the price of product or service and the cost of producing it Added Value = Price that the product or service is sold at - cost of producing the product
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