Question: Strong ordering means A. absence of indifference B. presence of indifference C. no difference between different combinations D. none of the above Answer» a. absence of indifference Note: The above multiple-choice question is for all general and Competitive Exams…

Question: An Essay on the Nature and Significance of Economic Science was written by A. adamsmith B. alfred marshall C. lord robbins D. samuelson Answer» c. lord robbins Note: The above multiple-choice question is for all general and Competitive Exams…

Question: The slope of a budget line throughout its length is A. the satisfaction level of both the commodities B. the income level of the consumer C. the price ratio of both the commodities under consideration D. price level of…

Question: Which of the following is not an assumption of classical theory? A. Price flexibility B. Unemployment C. Say’s law D. Neutrality of money Answer» b. Unemployment Note: The above multiple-choice question is for all general and Competitive Exams in…

Question: The idea that a general cut in wages will finally lead to a state of full employment was suggested by : A. Keynes B. Marshall C. J.B.Say D. A.C.Pigou Answer» d. A.C.Pigou Note: The above multiple-choice question is for…

Question: Who had a different macro theory than the rest? A. Adam Smith B. David Ricardo C. Malthus D. J.B.Say Answer» c. Malthus Note: The above multiple-choice question is for all general and Competitive Exams in India. 

Question: Engel curve for giffen good is A. positively sloped B. negatively sloped C. horizontal straight line D. vertical straight line Answer» b. negatively sloped Note: The above multiple-choice question is for all general and Competitive Exams in India. 

Question: ‘Higher the indifference curve higher will be level of satisfaction’. Thestatement is A. always true B. always false C. sometimes true and sometimes false D. true only if price effect is positive Answer» a. always true Note: The above…

Question: MEC for a capital good was found out to be 10% and the market rate of interest is 9%, then the investment is A. Not profitable B. Profitable C. Breakeven D. Cannot say Answer» b. Profitable Note: The above…

Question: International Social Science Associations were founded under the auspices of___________ A. UNESCO B. World Bank C. IMF D. USA Answer» a. UNESCO Note: The above multiple-choice question is for all general and Competitive Exams in India.