Which one of the following theories is not correct in the context of Central Limit Theorem?
A. If a population from which a sample is drawn is normally distributed the sampling distribution of mean (SDM) will be normal for all sample sizes
B. The mean of the SDM is the population mean
C. If the population is not normal from which the sample is drawn, the SDM is not normal for any sample size
D. If the population is not normal from which a sample is drawn, the SDM approaches normality as the sample size increases
Answer: Option C
The capital that is consumed by an economy or a firm in the production process is known as
A. Capital loss
B. Production cost
C. Dead-weight loss
D. Depreciation
Who propounded the opportunity cost theory of international trade?
A. Ricardo
B. Marshall
C. Heckscher & Ohlin
D. Haberler
Which among the following statement is INCORRECT?
A. On a linear demand curve, all the five forms of elasticity can be depicted
B. If two demand curves are linear and intersecting each other, then, coefficient of elasticity would be same on different demand curves at the point of intersection.
C. If two demand curves are linear and parallel to each other, then, at a particular price, the coefficient of elasticity would be different on different demand curves.
D. The price elasticity of demand is expressed in terms of relaive not absolute changes in Price and Quantity demanded.
A. Increase
B. Decrease
C. Remain the same
D. Become zero
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