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- Question
The scarcity definition of economics is credited to
Options- A. Dennis Robertson
- B. Lionel Robbins
- C. Alfred Marshall
- D. Adam Smith
- Correct Answer
- Lionel Robbins
ExplanationThe scarcity definition of economics is credited to Lionel Robbins.
- 1. Assessing opportunity cost involves
Options- A. choosing consequences over profits
- B. maximizing profit and loss
- C. making choices and dealing with consequences
- D. Both B & C Discuss
- 2. Mutual Funds are regulated in India by
Options- A. SEBI
- B. RBI
- C. RBI & SEBI both
- D. Stock Exchanges Discuss
- 3. The federal government debt is equal to the
Options- A. sum of past budget deficits minus the sum of past budget surpluses
- B. annual difference between federal government tax revenues and outlays
- C. obligations of benefits from federal taxes and expenditures
- D. sum of all annual federal government outlays Discuss
- 4. The most important determinant of consumer spending is
Options- A. consumer expectations
- B. the level of income
- C. the level of household borrowing
- D. the stock of wealth Discuss
- 5. Macroeconomics is the study of
Options- A. behavior of economy
- B. performance of economy
- C. changes in economy
- D. All of the above Discuss
- 6. What happens to demand when price increases?
Options- A. increases
- B. decreases
- C. remains same
- D. Can't be determined Discuss
- 7. A perfectly inelastic demand curve
Options- A. Vertical with some steep
- B. Perfectly horizontal
- C. Horizontal with some steep
- D. Perfectly vertical Discuss
- 8. Deficit financing implies
Options- A. replacing new currency with worn out currency
- B. public revenue in excess of public expenditure
- C. printing new currency notes
- D. public expenditure in excess of public revenue Discuss
- 9. If two goods are complements, then
Options- A. the cross-price elasticity of demand will be positive
- B. an increase in the price of one good will increase demand for the other
- C. the cross-price elasticity of demand will be negative
- D. both B & C Discuss
- 10. Microeconomics deals with the
Options- A. Behavior of industrial decision makers
- B. Allocation of resources of the economy as between production of different goods and services
- C. Determination of prices of goods and services
- D. All of the above Discuss
Indian Economy problems
Search Results
Correct Answer: making choices and dealing with consequences
Explanation:
Assessing opportunity cost involves making choices and dealing with consequences.
Correct Answer: SEBI
Explanation:
Mutual Funds are regulated in India by SEBI (Securities and Exchange Board of India). It was founded in 1992. In 1996, SEBI formulated the Mutual Fund Regulation.
Correct Answer: sum of past budget deficits minus the sum of past budget surpluses
Explanation:
The federal government debt is equal to the sum of past budget deficits minus the sum of past budget surpluses.
Correct Answer: the level of income
Explanation:
The most important determinant of consumer spending is the level of income.
Correct Answer: All of the above
Explanation:
Macroeconomics is the study of overall aggregate changes, behavior and performance of the economy of the country i.e, unemployment, GDP, inflation, etc...
Correct Answer: decreases
Explanation:
The Law of Demand tells that, if the price of a product increases then the demand will go down i.e, decreases iff all other things equal.
Correct Answer: Perfectly vertical
Explanation:
A perfectly inelastic demand curve is perfectly vertical either up or down in any way.
Correct Answer: public expenditure in excess of public revenue
Explanation:
Deficit financing implies public expenditure in excess of public revenue.
Correct Answer: both B & C
Explanation:
In economics, If two goods are complements, then the cross elasticity of demand is negative. That means a good's demand is increased when the price of another good is decreased. Conversely, the demand for a good is decreased when the price of another good is increased. It is opposite of substitute goods.
Correct Answer: All of the above
Explanation:
Microeconomics deals with the
* Allocation of resources of the economy as between production of different goods and services.
* Determination of prices of goods and services.
* Behavior of industrial decision makers.
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