Question # 1

The following are causes of shift in demand EXCEPT the one

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change in income

change in price

change in fashion

change in prices of substitutes

Who present the Arc Elasticity formula for the measurement of elasticity of demand.

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R.G.D Allen

Pareto

J.R. Hicks

Robbins

In mathematics which letters at the end of alphabet are used to represent variables

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(u,v,w,x,y,z)

(a,b.c.d.e.f.g)

(a.b.c.u.v.w)

((x,y,z,a,b,c)

With an increase in wage rate supply of labour.

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Decrease

Increase

Remains constant

None of the three

Every factor of production gets reward equal to its

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cost

marginal product

price

increasing return

x = 5 y^-1 this is a.

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Constant function

Explicit function

Inverse function

Decreasing function

When the price of a product falls and as a concequence the demand for the product increase. it will be.

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Rise of demands

Fall of demand

Extension of demand

Contraction on demand

A variable is a symbol which, during a discussion, may assume different values or a set of admissible values. This is the definition of

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Prof. Kooros

Prof. Marshall

Prof. Rabbins

Prof. Kneez

Macro economics deals with

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how to buy groceries

aggregate economics activity

establishment of a new firm

industrial activity

Total cost = Total variable cost in the.

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Marked period

Short run

Long run

None of the three

Only those goods are priced in the market which have:

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Utility

Sacrcity

Transferability

All of the above

One of the following NOT a assumption of the marginal productivity theory

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units of factor are homogeneous

mobility of factor

low price of factor

perfect competition

Quasi rent can be obtained if:

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Supply of factor other than land, is temporarily fixed

There is difference in the fertility of land

The government legislate on it

Trade unions protest for it

Land, labour and capital are needed to produce goods. They are collectively called

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elements of production

factors of production

tools of production

cost of production

Which laws are always subjected to certain conditions.

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Social

Political

Moral

Economic

Which one is the assumption of law of demand?

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price of the commodity should not change

quantity demand should not change

income of the consumer should not change

none of the above

Who was the exponent of macro economics in recent times.

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Adam Smith

J.M. Keynes

Marshall

Maithus

When MP is zero, TP is

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minimum

maximum

rising

falling

Which of the following factors takes risk, innovates and coordinates

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capital

labour

bank

entrepreneur

TR increase at a constant rate under:

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monopoly

Monopolistic

Perfect competition

Oligopoly

The relationship between two variables that move in the same direction is called

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neutral

positive

independent

dependent

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