71
In the perfect competition, the downward sloping part of the marginal value productivity curve of a factor shows
A)
demand curve for the factor
B)
wages of the factor
C)
level of employment of the factor
D)
supply of the factor
Answer & Solution
Answer: Option
A
72
Which of the following pairs of commodities is an example of substitutes?
A)
Coffee and milk
B)
Diamond and cow
C)
Pen and ink
D)
Mustard oil and coconut oil
Answer & Solution
Answer: Option
D
73
Which of the following is an economic activity?
A)
To teach a son at home
B)
Teaching teacher in the school
C)
To serve her child by the mother
D)
To play football by a student
Answer & Solution
Answer: Option
B
74
The area of consumers savings in the graph is
A)
Below the demand curve and above the price line
B)
Above the supply curve and below the price line
C)
Above the demand curve and below the price line
D)
Below the demand curve and above the supply curve
Answer & Solution
Answer: Option
A
75
The concept of liberalization, privatization and globalization was introduced first in Indian economy in the year
A)
1984
B)
1991
C)
1995
D)
2000
Answer & Solution
Answer: Option
B
76
Which of the following statement is not correct?
A)
M4 = M3 + total deposits of post offices
B)
M3 = M1 + total deposits of banks
C)
M1 = M2 + M3 + M4
D)
M2 = M1 + deposit in post office savings account
Answer & Solution
Answer: Option
C
77
A rectangular hyperbola-shaped demand curve on all its point has
A)
Equal slopes and equal point elasticities
B)
Unequal slopes and unequal point elasticities
C)
Unequal slopes and equal point elasticities
D)
None of the above
Answer & Solution
Answer: Option
C
78
Match the following.
List-I List-II
a. Contraction of demand
1. Non-price change effect
b. Decrease in demand
2. Demand curve remains the same
c. Increase in demand
3. Price change effect
d. Expansion of demand
4. Shifts the demand curve
A)
a-3, b-1, c-4, d-2
B)
a-4, b-3, c-2, d-1
C)
a-1, b-2, c-3, d-4
D)
a-2, b-4, c-1, d-3
Answer & Solution
Answer: Option
A
A)
An excess not a cost
B)
A cost not an excess
C)
Sometimes only one excess/surplus and one cost
D)
Neither excess nor cost
Answer & Solution
Answer: Option
A
80
What should be the management? It is related to
A)
Positive science
B)
Normative science
C)
Art
D)
All of these
Answer & Solution
Answer: Option
B
