| 1 |
An individual whose attitude towards is known as:
|
Risk averse <br>
Risk loving <br>
Risk neutral<br>
None of them <br>
|
| 2 |
According to Marshall, the basis to consumer surplus is:
|
Law of diminishing marginal utility<br>
Law of equimarginal utility <br>
Law of proportions <br>
All of the above <br>
|
| 3 |
According to the law of diminishing utility:
|
Utility is a maximum whit the first unit <br>
Increase units of consumption increase the marginal utility<br>
Marginal product will fall as more units are consumed<br>
Total utility will rise at a falling rate as more units are consumed<br>
|
| 4 |
Every country establishes central bank to:
|
issue notes <br>
Supervise commercial banks <br>
Give loans to businessmen<br>
Both a and b <br>
|
| 5 |
In the short run films t in perfect competition will still produced provided:
|
The price covers averages variable cost<br>
The Price covers variables cost<br>
The price covers average fixed cost <br>
The price covers fixed costs<br>
|
| 6 |
Aggregated demand will increases if:
|
Consumption falls<br>
investment falls<br>
Exports fall<br>
Imports falls<br>
|
| 7 |
'From each according to his ability, to each according to his need' is the theoretical slogan of which system?
|
Communist system <br>
Capitalist system <br>
Fascist system <br>
None of these<br>
|
| 8 |
A shift in aggregate supply is likely to:
|
Reduce the general price level and reduce and national income<br>
Reduce the general price and level and increase national income <br>
Increase the general price level and reduces national income<br>
Increase the general price level and increase the national income<br>
|
| 9 |
Friedman's theory of consumption focuses on:
|
Past income <br>
Current income <br>
Disposable income <br>
Permanent income<br>
|
| 10 |
When an economy first begins to grow more slowly:
|
GDP increases <br>
Inflation is like to increase <br>
Stock levels are likely to increase <br>
Investment in equipment is likely to increase <br>
|
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