Economics MCQ Questions and Solutions with Explanations | Commerce

A. Rise, fall or stay, depending on the relative size of the shifts in the demand and supply curves

B. Remain the same

C. Fall

D. Rise

A. a-1, b-2, c-3, d-4

B. a-1, b-2, c-4, d-3

C. a-3, b-4, c-1, d-2

D. a-3, b-4, c-2, d-1

A. upward shift of the demand curve

B. downward shift of the demand curve

C. movement on the same demand curve

D. none of these

A. On 16^th April, 1976

B. On 16^th April, 1986

C. On 16^th April, 1969

D. None of the above

A. $$\frac{{M{U_X}}}{{M{U_Y}}} < \frac{{{P_X}}}{{{P_Y}}}$$

B. $$\frac{{M{U_X}}}{{M{U_Y}}} > \frac{{{P_X}}}{{{P_Y}}}$$

C. $$\frac{{M{U_X}}}{{M{U_Y}}} = \frac{{{P_X}}}{{{P_Y}}}$$

D. $$\frac{{M{U_X}}}{{M{U_Y}}} \ne \frac{{{P_X}}}{{{P_Y}}}$$

A. Inverse relationship

B. Direct relationship

C. No relation

D. None of these

A. Both the statements are correct

B. Both the statements are incorrect

C. Statement I is correct, while Statement II is incorrect

D. Statement I is incorrect, while Statement II is correct

A. 1, 2 and 3

B. 2, 3 and 4

C. 1, 3 and 4

D. All of these

A. income elastic

B. income inelastic

C. price elastic

D. price inelastic

A. National Income

B. International Trade

C. Trade Cycle

D. All of the above