Question:

Remittances made by NRIs to India in the context of national income accounting is called as

A.

Remittance Income

B.

NRI Income

C.

Factor Payments

D.

All of the above

Answer» c. Factor Payments

Question:

The addition to the total revenue by the sale of an additional unit is:

A.

Total revenue

B.

Average revenue

C.

Value added

D.

Marginal revenue

Answer» d. Marginal revenue

Question:

The total fixed cost is a

A.

horizontal straight line

B.

vertical

C.

hyperbola

D.

u shaped

Answer» a. horizontal straight line

Question:

Microeconomics deals primarily with:

A.

Comparative statics, general equilibrium and positive economics

B.

Comparative statics, partial equilibrium and normative economics

C.

Dynamics, partial equilibrium and positive economics

D.

Comparative statics, partial equilibrium and positive economics.

Answer» d. Comparative statics, partial equilibrium and positive economics.

Question:

Micro economic theory studies how a free enterprise economy determines:

A.

The Price of goods

B.

The price of services

C.

The price of resources

D.

All of these.

Answer» a. The Price of goods

Question:

The average fixed cost is obtained by :

A.

TFC / Q

B.

MC / Q

C.

TAC / Q

D.

AVC / Q

Answer» a. TFC / Q

Question:

Strong ordering is a distinguishing feature of the theory given by:

A.

Marshall

B.

Hicks

C.

Samuelson

D.

Adam Smith

Answer» c. Samuelson

Question:

To whom do you attribute the ‘growth’ definition of economics?

A.

Paul Samuelson

B.

Lionel Robbins

C.

Milton Friedman

D.

Alfred Marshall

Answer» a. Paul Samuelson

Question:

The slope of a budget line 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 a country

Answer» c. the price ratio of both the commodities under consideration

Question:

In Classical theory, the equality between saving and investment is brought about by:

A.

Income

B.

Rate of interest

C.

Consumption

D.

Multiplier.

Answer» b. Rate of interest