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- Question
Backward bending supply curve belongs to which market?
Options- A. Capital
- B. Labour
- C. Money
- D. Inventories
- Correct Answer
- Money
- 1. National Income of India is compiled by
Options- A. Finance Commission
- B. Indian Statistical Institute
- C. National Development Council
- D. Central Statistical Organization Discuss
- 2. Which one of the following hypotheses postulates that individual's consumption in any time period depends upon resources available to the individual, rate of return on his capital and age of the individual?
Options- A. Absolute Income Hypothesis
- B. Relative Income Hypothesis
- C. Life Cycle Hypothesis
- D. Permanent Income Hypothesis Discuss
- 3. A market situation when firms sell similar but not identical products is termed as
Options- A. perfect competition
- B. imperfect competition
- C. monopolistic competition
- D. oligopoly Discuss
- 4. When some goods or productive factors are completely fixed in amount, regardless of price, the supply curve is
Options- A. horizontal
- B. downward sloping to the right
- C. vertical
- D. upward sloping to the right Discuss
- 5. When some goods or productive factors are completely fixed in amount, regardless of price, the supply curve is
Options- A. horizontal
- B. downward sloping to the right
- C. vertical
- D. upward sloping to the right Discuss
- 6. If a budget is defeated in the legislature of a state then
Options- A. The Finance Minister alone has to resign
- B. The Finance Minister concerned has to be suspended
- C. The council of Ministers along with the Chief Minister has to resign
- D. Reelection have to be ordered Discuss
- 7. In terms of economics, if it is possible to make someone betteroff without making someone worseoff, then the situation is
Options- A. Inefficient
- B. Efficient
- C. Optimal
- D. Paretosuperior Discuss
- 8. Which of the following is not true about a Demand Draft?
Options- A. It is a negotiable instrument.
- B. It is a banker's cheque.
- C. It may be dishonoured for lack of funds.
- D. It is issued by a bank. Discuss
- 9. The innovation theory of profit was proposed by
Options- A. Marshall
- B. Clark
- C. Schumpeter
- D. Joan Robbinson Discuss
- 10. Which one of the following statements about Exchange-Traded Fund (ETF) is not correct?
Options- A. It is a marketable security.
- B. It experiences price changes throughout the day.
- C. It typically has lower daily liquidity and higher fees than mutual fund shares.
- D. An ETF does not have its net asset value calculated once at the end of every day. Discuss
Indian Economy problems
Search Results
Correct Answer: Central Statistical Organization
Correct Answer: Life Cycle Hypothesis
Explanation:
The life-cycle theory of consumption, popularly known as life-cycle hypothesis,' was developed by Ando and Modigliani" in the early 1960s.
The life-cycle hypothesis postulates that individual consumption in any time period depends on
(i) resources available to the individual,
(ii) the rate of return on his capital, and
(iii) the age of the individual.
The resources available to an individual consist of his existing net wealth and the present value of all his current and future labour incomes. According to the life-cycle hypothesis, a rational consumer plans consumption on the basis of all his resources and allocates his income to consumption over time so that he maximizes his total utility over his life time.
Correct Answer: monopolistic competition
Explanation:
Monopolistic competition is a type of imperfect competition such that many producers sell products that are differentiated from one another (e.g. by branding or quality) and hence are not perfect substitutes.
In other words, large sellers selling the products that are similar, but not identical and compete with each other on other factors besides price.
Correct Answer: upward sloping to the right
Explanation:
Although demand curves are typically downward sloping to reflect that consumers? utility for a good diminishes with increased consumption, firm supply curves are generally upward sloping.The upward sloping character reflects that firms will be willing to increase production in response to a higher market price because the higher price may make additional production profitable.
Correct Answer: upward sloping to the right
Explanation:
Although demand curves are typically downward sloping to reflect that consumers? utility for a good diminishes with increased consumption, firm supply curves are generally upward sloping.The upward sloping character reflects that firms will be willing to increase production in response to a higher market price because the higher price may make additional production profitable.
Correct Answer: The council of Ministers along with the Chief Minister has to resign
Correct Answer: Paretosuperior
Correct Answer: It may be dishonoured for lack of funds.
Correct Answer: Schumpeter
Correct Answer: It typically has lower daily liquidity and higher fees than mutual fund shares.
Explanation:
An ETF, or exchange-traded fund, is a marketable security that tracks an index, a commodity, bonds, or a basket of assets like an index fund.
?Unlike mutual funds, an ETF trades like a common stock on a stock exchange.
?ETFs experience price changes throughout the day as they are bought and sold.
?ETFs typically have higher daily liquidity and lower fees than mutual fund shares, making them an attractive alternative for individual investors.
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