Question # 1

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

Variable are represented by symbol

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V

U

P

C

If we plot the equation y = 20 +3x, its slope is

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20

3

20/3

Indeterminate

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

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

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Increase

Decreasing

Maximum

Constant

The talent of a professor is .

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National wealth

International wealth

Personal wealth

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

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 ______ is something which is measurable and can take on different values

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Variable

Constant

Both a and b

None of these

Law of equi marginal utility provides basis for.

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Equal distribution of wealth

Economy in taxation

Law of diminishing returns

Law of constant returns

A statement of how one variable affects other variable is

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a quadrant

a variable

an assumption

a functional relationship

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 equations?

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4

3

2

5

Who introduced indifference curves to explain consumer's beghavior

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J.R Hicks

Marshall

Robbins

Adam Smith

______ is a science which is concerned with the collection, presentation, and interpretation of numerical data

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Statistics

Economics analysis

Function

None of these

3x²=0 is an equation

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linear

quadratic

general

first degree

To measure changes in purchasing power of money, we use

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percentages

index numbers

averages

variables

According to law of diminishing marginal utilities , a consumer maximises his total utility where.

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MU_a = MP_a

MU_a = AU_a

MU_a = TC_a

MU_a = P_a

When the classify data on the basis of income there will be

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class intervals

class numbers

groups

sections

A contour line which slopes downward from left to right and yield equal level of satisfaction to consumer with the given income is.

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Negatively slop curve

An indifference curve

Positively sloped Curve

None of the above

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