[{"id":180749,"question":"The method to measure the elasticity of demand is :","choices":[{"text":"Percentage method","value":"A"},{"text":"Total outlay approach","value":"B"},{"text":"Geometric approch","value":"C"},{"text":"All the three","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":180747,"question":"The method to measure the elasticity of demand by the unitary method was introduced by.","choices":[{"text":"Alfred Marshall","value":"A"},{"text":"Robbins","value":"B"},{"text":"Adam Smith","value":"C"},{"text":"Malthus","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":180746,"question":"The elasticity f demand in case of substitute is called.","choices":[{"text":"Income elasticity of demand","value":"A"},{"text":"Priceelasticity of demand","value":"B"},{"text":"Crosselasticity of demand","value":"C"},{"text":"None of the three","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":180745,"question":"The demand for a product is inelastic. In order to increase government revenue, the finance minister will :","choices":[{"text":"Lower down the tax rate","value":"A"},{"text":"Increase the tax rate","value":"B"},{"text":"Not change the tax rate","value":"C"},{"text":"Double the tax rate","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":180744,"question":"The composite demand for a product is generally:","choices":[{"text":"Elastic","value":"A"},{"text":"Inelastic","value":"B"},{"text":"Equal to unity","value":"C"},{"text":"Equal to zero","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":180743,"question":"In case of perfectly elastic demand curve, the demand curve will be parallel to the :","choices":[{"text":"Horizontal axis","value":"A"},{"text":"Vertical Axis","value":"B"},{"text":"None of the above","value":"C"},{"value":"D"},{"value":"E"}],"correctAnswer":2},{"id":180742,"question":"In case of perfectly elastic demand curve, the demand curve will be parallel to the.","choices":[{"text":"Horizontal Axis","value":"A"},{"text":"Vertical Axis","value":"B"},{"text":"None of the above","value":"C"},{"value":"D"},{"value":"E"}],"correctAnswer":1},{"id":180741,"question":"The elasticity of demand for a product is less than unity. Therefore, with a fall in its price, total expenditure of consumer will.","choices":[{"text":"Fall","value":"A"},{"text":"Rise","value":"B"},{"text":"Remain the same","value":"C"},{"text":"Fluctuate","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":180739,"question":"If the price of a product rises, quantity demand if its substitute will.","choices":[{"text":"Fall","value":"A"},{"text":"Rise","value":"B"},{"text":"Remain unchanged","value":"C"},{"text":"Fluctuate","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":180737,"question":"Who present the Arc Elasticity formula for the measurement of elasticity of demand.","choices":[{"text":"R.G.D Allen","value":"A"},{"text":"Pareto","value":"B"},{"text":"J.R. Hicks","value":"C"},{"text":"Robbins","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":180734,"question":"The price of a product double due to which its quantity demand falls to one half. The elasticity of demand for product will be:","choices":[{"text":"Equal to unity","value":"A"},{"text":"Lass than unity","value":"B"},{"text":"Greater than unity","value":"C"},{"text":"Equal to zero","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":180733,"question":"Elasticity of a demand for product will be greater then unity if, with a fall in its price, total expenditure of consumer.","choices":[{"text":"Increase","value":"A"},{"text":"Falls","value":"B"},{"text":"Remains the same","value":"C"},{"text":"None of the three","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":180731,"question":"Products A and B are substitutes whereas A and C are complement. With a rise in the price of product A, quantity demand of:","choices":[{"text":"Product B will go up","value":"A"},{"text":"Product will fall","value":"B"},{"text":"Both the above will take place","value":"C"},{"text":"Nothing will take place","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":180728,"question":"With a fall in the price of a Giffen good or inferior good its quantity demand will.","choices":[{"text":"Fall","value":"A"},{"text":"Rise","value":"B"},{"text":"Remain unchanged","value":"C"},{"text":"None of three","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":180726,"question":"If the price of a product increase from Rs. 12 per unit and as a consequence quantity demand of the product falls from 100 units to 50 units . The price elasticity of the product will be.","choices":[{"text":"2.5","value":"A"},{"text":"0.5","value":"B"},{"text":"1.5","value":"C"},{"text":"3.5","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":180703,"question":"One of the following will not cause a rise and fall on demand.","choices":[{"text":"Change in income","value":"A"},{"text":"Change in weather","value":"B"},{"text":"Discovery of a substitute","value":"C"},{"text":"Distribution of income remaining the same","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":180702,"question":"One of the following is not an exception the law of demand.","choices":[{"text":"Very high price products","value":"A"},{"text":"Very low price products","value":"B"},{"text":"Ignorance of consumers","value":"C"},{"text":"Non of the above","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":180701,"question":"The demand curve is negatively sloped due to","choices":[{"text":"Income effect","value":"A"},{"text":"Substitution effect","value":"B"},{"text":"Price effect","value":"C"},{"text":"All the three","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":180700,"question":"The law of demand will not be apply in case of","choices":[{"text":"Inferior goods","value":"A"},{"text":"Superior goods","value":"B"},{"text":"Normal goods","value":"C"},{"text":"Non of them","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":180699,"question":"When the price of a product falls and as a concequence the demand for the product increase. it will be.","choices":[{"text":"Rise of demands","value":"A"},{"text":"Fall of demand","value":"B"},{"text":"Extension of demand","value":"C"},{"text":"Contraction on demand","value":"D"},{"value":"E"}],"correctAnswer":3}]