91
The concept of national income lays down the basis of
A)
Macro economic analysis
B)
Micro economic analysis
C)
Business cycle analysis
D)
Analysis of government budget
Answer & Solution
Answer: Option
A
92
In the short-run, when a simple monopoly firm attains equilibrium and earns only normal profit, its level of output will correspond to:
A)
Lowest average cost
B)
Average cost above optimum level of output
C)
Average cost equals marginal cost
D)
Marginal cost much below average cost
Answer & Solution
Answer: Option
D
93
According to Malthus, the supply of food increases
A)
Arithmetic increase
B)
Average increase
C)
Geometric increase
D)
None of these
Answer & Solution
Answer: Option
A
94
From the following, identify the tools of fiscal policy:
A)
(i), (iii), (iv) and (v)
B)
(i), (ii), (iv) and (v)
C)
(ii) and (v)
D)
(i), (iii) and (iv)
Answer & Solution
Answer: Option
D
95
. . . . . . . . is also known as optimal pricing.
A)
Perfect price discrimination
B)
Second degree price discrimination
C)
Third degree price discrimination
D)
All of the above
Answer & Solution
Answer: Option
A
96
Which of the following approach adopted by NITI Aayog are not included?
A)
Five year planning approach
B)
Three year action agenda
C)
Seven year strategy
D)
Fifteen year vision
Answer & Solution
Answer: Option
A
97
The equilibrium level of output for the pure monopolist is where
A)
MR = MC
B)
P < AC
C)
MR < MC
D)
MR > MC
Answer & Solution
Answer: Option
A
98
Of the following goods, the one where the law of diminishing marginal utility is least likely to apply is
A)
water
B)
cigarettes
C)
toothpaste
D)
rap music
Answer & Solution
Answer: Option
B
99
Price discrimination involves
A)
firms selling different products at different prices to different consumers
B)
firms selling the same product at different prices to different consumers
C)
consumers discriminating between different sellers on the basis of the different prices they quote for different products
D)
consumers discriminating between different sellers on the basis of the different prices they quote for the same product
Answer & Solution
Answer: Option
B
100
A monopolist has a downward sloping demand curve because
A)
it has an inelastic demand
B)
typically, it sells only to a few large buyers
C)
its demand curve is the same as the industry's demand curve
D)
consumers prefer that product
Answer & Solution
Answer: Option
C
