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- Question
A beedi making workshop can hire 5 women by paying them Rs. 300 per day. The 6th woman demands Rs. 350 per day. If this woman is hired then all other women must be paid Rs. 350. The marginal resource (labour) cost of the 6th woman is
Options- A. Rs. 600
- B. Rs. 50
- C. Rs. 300
- D. Rs. 100
- Correct Answer
- Rs. 600
- 1. If price of an article decreases from Rs P1 to Rs 190, when quantity demanded increases from 5000 units to 5200 units, and if point elasticity of demand is -0.8 find P1?
Options- A. Rs 220
- B. Rs 240
- C. Rs 200
- D. Rs 250 Discuss
- 2. Stagflation is a period of _______.
Options- A. Persistent high inflation combined with high unemployment
- B. Persistent high inflation combined with low unemployment
- C. Persistent low inflation combined with high unemployment
- D. Persistent low inflation combined with low unemployment Discuss
- 3. Match the characteristics with their market structure: (a) Expand out put until MC = MR (b) Elasticity of demand depends on pricing policies of rivals
Options- A. (a) Pure competition, (b) Pure Monopoly
- B. (a) Pure Monopoly, (b) Monopolistic competition
- C. (a) Pure competition, (b) Oligopoly
- D. (a) Monopolistic competition, (b) Oligopoly Discuss
- 4. If demand curve for roller skates is D = 23000 - 19P and supply curve is S = 18000 + 6P, find the equilibrium Price?
Options- A. Rs 100
- B. Rs 400
- C. Rs 50
- D. Rs 200 Discuss
- 5. 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
- 6. Stagflation is defined as
Options- A. low inflation, low growth, low unemployment
- B. high inflation, low growth, high unemployment
- C. high inflation, high growth, high unemployment
- D. low inflation, high growth, low unemployment Discuss
- 7. Irfaan loves black coffee. A roadside stall selling a cup of black coffee at Rs. 120, offered 25% discount to Irfaan. If Irfaan was willing to pay even Rs. 200 for this cup of black coffee, Irfaan's consumer surplus is
Options- A. 90
- B. 80
- C. 30
- D. 110 Discuss
- 8. Which among the following does not count in the development expenditure of government?
Options- A. Expenditure on economic services
- B. Expenditure on social services
- C. Grant to states
- D. Defence expenditure Discuss
- 9. If a country devalues its currency, its _______________
Options- A. Exports become cheaper and imports become costlier
- B. Exports become costlier and imports become cheaper.
- C. Exports value is equivalent to imports value
- D. No effect on exports and imports Discuss
- 10. Sectoral distribution of GDP index measures_________
Options- A. Agriculture development of a country
- B. Economic development of a country
- C. Social development of a country
- D. SocioEconomic development of a country Discuss
Indian Economy problems
Search Results
Correct Answer: Rs 200
Correct Answer: Persistent high inflation combined with high unemployment
Correct Answer: (a) Monopolistic competition, (b) Oligopoly
Correct Answer: Rs 200
Correct Answer: Substitution effect
Correct Answer: high inflation, low growth, high unemployment
Correct Answer: 110
Correct Answer: Defence expenditure
Correct Answer: Exports become cheaper and imports become costlier
Correct Answer: Economic development of a country
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