Question # 1

One of the following is not an exception to the law of diminishing marginal utility .

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Money

Knowledge

Music

Non of them

if X and Y scales are the same a line making 45-degree angle with X-axis has slope

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1/4

1/2

1

constant

How many kinds of data?

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2

3

4

5

The relationship between two variables that move in the same direction is called

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neutral

positive

independent

dependent

Variable are represented by symbol

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V

U

P

C

How many kinds of equations?

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4

3

2

5

The utility of an additional unit of a product is

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Law of demand

Law of substitution

Law of supply

Law of diminishing marginal utility

Who introduced indifference curves to explain consumer's beghavior

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J.R Hicks

Marshall

Robbins

Adam Smith

Law of diminishing marginal utility provides basis for:

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Law of demand

Law of supply

Laws of returns

Law of variable proportions

The talent of a professor is .

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National wealth

International wealth

Personal wealth

Non of them

A variable is a symbol which, during a discussion, may assume different values or a set of admissible values. This is the definition of

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Prof. Kooros

Prof. Marshall

Prof. Rabbins

Prof. Kneez

In mathematics which letters at the end of alphabet are used to represent variables

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(u,v,w,x,y,z)

(a,b.c.d.e.f.g)

(a.b.c.u.v.w)

((x,y,z,a,b,c)

How many Kinds of variables?

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There are many kinds of variables

There are 2 kinds of variables

There are 3 kinds of variables

There are 4 kinds of variables

According to law of equi-marginal utility a consumer will maximises his total utility when

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He spends all his income on the product only

He spends more on one and less on the other

Marginal utility of the two goods are equalised

Not only the marginals utility of the two goods are equalised, but also the marginal utility of each good is equal to its price.

A bridge will be a

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Private good

Capital goods

Consumer good

Personal good

Constant are represented by symbol

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C

V

P

U

Marginal utility of a product is the utility obtained by consuming.

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First unit of consummption

Each additional unit of consumption

Last unit of consumption

None of the them

When marginal utility of a product is zero its total utility will be.

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Increase

Decreasing

Maximum

Constant

How many kinds of Function

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2

3

4

5

To measure changes in purchasing power of money, we use

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percentages

index numbers

averages

variables

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