Question # 1

When marginal revenue equals marginal cost

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Total revenue equal total cost

There is the biggest positive difference between total revenue and total cost

there is the biggest negative difference between total revenue and total cost.

Profits are zero

Life centered, ethics taken into account of action of.

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Animals

Human beings

Impact of human action

Al of these

Inflation.

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Reduces the cost of living

Reduces the standard of living

Reduce the price of products

Reduces the purchasing power of a price

A determinant composed of all the first order partial derivatives of a system of equations, arranged in ordered sequence is called.

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Hassian determinatn

Jacobian determiant

Discrimianant

First order determinant

Can economic theories be tested.

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No since individuals will seldom respond in predictable ways

Yes, since all individuals respond int he same ways to the same situation.

No , since the general behavior of a large numebr of individuals cannot be predicated

Yes , since people will, on average, respond in predictable ways to changes in costs and benefits.

Indifference curve theory is old wine in new labeled bottle is said by.

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Marshall

Griffin

Ricardo

Allen

Currency speculations is_________ if speculators bet against market forces that cause exchange functions, thus moderating such fluclutions.

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Destabilizing

Stabilizing

Inflationary

Deflationary

Full- employment output is the level of output that firms in the economy supply when

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Taxes are zero

Wages and prices have fully adjusted

The unemployment rate in zero

All capital is fully utilized

"Principles of economics" is the book of

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Robbins

Adam smith

Hicks

Marshall

Which of the following macro economic variables doesn't vary much ove the seasons.

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The nominal money stock

The unemployment rate

The real wage

Average labor productivity

Short run average total costs are equal to the sum of _______ and______

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Short run opportunity costs, profit

Short run average variable costs, profit

short run average variable costs, profit.

Short run average variable costs short run average fixed costs

If the marginal revenue is less than the marginal cost then to profit maximize a firm should.

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Reduce output

Increase output

Leave output where it is.

Increase costs

Suppose nominal GNP is Rs.500 in year 1, the base year If the GNP deflator doubles by year 6 while real output has increased 40% nominal output in year 6 equals.

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Rs.2000

Rs.1400

Rs.1000

Rs.750

Silent spring is written by

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Spinoza

Paul Taylor

Arne Naes

Rachel Carison

Which of the following is not a basic assumption of perfect competition.

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Free entry and exit

Many small sellers and buyers

Perfect information

Short run

Improved training of employees would.

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Shift aggregate supply to the right

Shift aggregate supply to the left

Shift aggregate demand to the right

Shift aggregate demand to the left

The factor endearment model of international trade was developed by.

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Adam Smith

David Ricardo

John Stuart Mill

Eli Heckscher and Beril Ohlin

What tow factors should you equate in deciding how many workers to employ.

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The marginal product of labor and the marginal product of capital

The marginal product of labor and the real wage rate

The marginal product of labor and the real interest rate

The marginal product of capital and the real wage rate

Headquarter of IMF is located in.

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Geneva

Washington DC

London

New york

According to M.P Todaro model of ruler -urban migraton the migrationis assumed to be a.

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Social phenomenon

Cultural phenomenon

Uneconomic phenomenon

Economic phenomenon

If a firm not operating at the output necessary to achieve al scale economies it has not achieved its.

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Efficient scale

Average efficient scale

Maximum efficient scale

Minimum efficient scale

Union of A and a null set is equal is.

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Intersection of A and null set

Null set

Both a and b

A

Micro economics is the study of.

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Economy on the whole

Large units of the economy

Individual units of the economy

General economics

In which of the following situations will an increase in the money supply have no effect upon equilibrium iincome.

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LM is steeply sloped and IS is relatively that

LM is vertical and IS is stopped

LM is steeply sotped and IS is vertical

LM is relatively flat as is IS

any number raise to the power zero is always equal to.

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zero

one

two

The number itself

The valued of expenditure multiplier relates.

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The change in autonomous spending to the change in income

the change in consumption to change in income

The change in come to the change is consumption

The change in income to the change in autonomous spending.

If average fixed cost is 40 and average variable cost is 80 for a given output we the know that average total cost is.

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40

¹²⁰

80

None of the above

The prisoners Dilemma Game demonstrates that.

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Players are better off to act independently

Monopoly is better than competition

People will always cheat

Players are better off if they con operate

If as result of householder wish to save more there is a change in equilibrium income and no change in equilibrium saving this as an example of.

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Market imperfection

The law of diminishing returns

The paradox of thriff

Market failure

Cross -elasticity following commodities is very high

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Compliments

Normal

Goods substitutes

Good compliments

Research simply mesa a search for.

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Problems

Facts

Results

Topic

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