Question:

________ social science discipline deals with the integration of different aspects of the Social Sciences, Humanities, and Human Biology

A.

Criminology

B.

Demography

C.

Geography

D.

Anthropology

Answer» d. Anthropology

Question:

Market does not clear is a proposition of:

A.

Neoclassical theory.

B.

Keynesian Economics

C.

Monetarism

D.

Rational expectations

Answer» b. Keynesian Economics

Question:

Total Revenue is the maximum when Marginal Revenue is ———-

A.

Positive

B.

Negative

C.

One

D.

Zero

Answer» d. Zero

Question:

In the case of a free good, the consumer will be in equilibrium when:

A.

MU = P

B.

MU = 0

C.

TU = 0

D.

TU =1

Answer» b. MU = 0

Question:

Measurable utility is the postulate of:

A.

Neo-Classical school

B.

Ordinalist school

C.

Behaviourist school

D.

Keneysians

Answer» a. Neo-Classical school

Question:

If the income elasticity of demand for a commodity is found to be 0.4, then the commodity concerned is

A.

Luxury

B.

Necessity

C.

Giffen’s goods

D.

Independent good

Answer» b. Necessity

Question:

In a two sector economy, aggregate demand is equal to

A.

C+I

B.

C+S

C.

S+I

D.

All of the above

Answer» a. C+I

Question:

Introspection is not the basis of :

A.

Marshallian utility analysis

B.

Indifference Curve Analysis

C.

Revealed Preference Hypothesis

D.

Demand Analysis

Answer» c. Revealed Preference Hypothesis

Question:

As a result of a fall in the price total expenditure on the commodity decreases, the coefficient of elasticity will be:

A.

Equal to one

B.

Greater than one

C.

Less than one

D.

Cannot say

Answer» c. Less than one

Question:

Hicks Allen indifference theory is based on

A.

weak ordering

B.

strong ordering

C.

constant ordering

D.

multiple ordering

Answer» a. weak ordering