Economics MCQ Questions and Solutions with Explanations | Commerce

A. Hatrey's business trade cycle theory

B. Hick's business trade cycle theory

C. Hayek's business cycle theory

D. Keynes's business cycle theory

A. Malthus's population theory does not directly depend on the law of generation

B. Malthus population theory compared population with the total output of a country

C. According to Malthus there is a direct relationship between standard of living and population

D. In the theory of optimum population, the population is compared from the food grains of the country

A. 1, 2 and 4

B. 2, 3 and 4

C. 1, 3 and 4

D. All of the above

A. The increased taxation to pay for the school

B. The money that was spent on building the school

C. The other goods that could have been produced with the resources used to build the school

D. The running cost of the school when it is opened

A. (A) is correct, but (R) is incorrect

B. (A) is incorrect, but (R) is correct

C. Both (A) and (R) are correct and (R) is the right explanation of (A)

D. Both (A) and (R) are correct, but (R) is not the right explanation of (A)

A. measures the utilities in precise manner though they are immeasurable

B. is relative to the level of utilities only

C. is the basis of the 'Revealed Preference Curve'

D. is the basis of indifference curve analysis

A. inelastic

B. elastic

C. unit elastic

D. cannot be known

A. $$\frac{{M{U_x}}}{{{P_x}}} = \frac{{M{U_y}}}{{{P_y}}}$$

B. $$\frac{{M{U_x}}}{{{P_x}}} < \frac{{M{U_y}}}{{{P_y}}}$$

C. $$\frac{{M{U_x}}}{{{P_x}}} > \frac{{M{U_y}}}{{{P_y}}}$$

D. Both B and C

A. Consumer's demand

B. Durable demand

C. Producer's demand

D. Both A and B

A. Robbins

B. Keynes

C. Bamol

D. Marshall