Economics MCQ Questions and Solutions with Explanations | Commerce

A. rises

B. falls

C. remains unchanged

D. any of the above

A. Prisoner dilemma

B. Monopoly cell

C. Jailhouse sentence

D. Jury box

A. Ragner Frisch and Jan-Tinbergen

B. Gunuar Mirdal and F. Von Hayek

C. Paul Samuelson

D. Milton Friduran

A. Foreign imports less expensive in the United States

B. US exports less expensive in foreign countries

C. The demand for US exports decrease

D. All of the above

A. normal profit is maximised

B. abnormal profit is maximised

C. total profit is maximised

D. total profit is minimised

A. Indivisibility of the factors

B. Fuller utilisation of fixed factors

C. Greater specialisation of factors

D. Dimensional economies

A. 1948

B. 1956

C. 1979

D. 1985

A. a planning committee

B. the elected representatives of the people

C. the price-mechanism

D. none of the above

A. lie above the ATC curve

B. lie below the ATC curve

C. Both coincide

D. None of these

A. $$\frac{{{P_K}}}{{{P_L}}}$$

B. $$\frac{{{P_L}}}{{{P_K}}}$$

C. $$ - \frac{{{P_L}}}{{{P_K}}}$$

D. $$ - \frac{{{P_K}}}{{{P_L}}}$$