Question:

Which of the following is not a stock variable:

A.

Vapital

B.

Wealth

C.

Money supply

D.

Saving

Answer» d. Saving

Question:

Which of the following is not a flow variable:

A.

Income

B.

Wealth

C.

Saving

D.

Investment

Answer» b. Wealth

Question:

The cost expressed not in terms of money but in terms of efforts of workersundergone for making the commodity

A.

opportunity cost

B.

real cost

C.

sacrifice cost

D.

implicit cost

Answer» c. sacrifice cost

Question:

The slope of an indifference curve represents:

A.

Price ratio of good X and Y

B.

MRTS L,K

C.

MRSx,y

D.

MRS

Answer» c. MRSx,y

Question:

Who invented the General Equilibrium analysis?

A.

L. Walras.

B.

W. Leontief

C.

J.M.Keynes.

D.

None of these.

Answer» a. L. Walras.

Question:

Personal Disposable income is:

A.

Always equal to personal income

B.

Always more than personal income

C.

Equal to personal income minus direct taxes

D.

Equal to personal income minus indirect taxes

Answer» c. Equal to personal income minus direct taxes

Question:

According to Marshall consumer surplus is:

A.

total utility – marginal utility

B.

total utility + marginal utility

C.

total utility derived – price

D.

price – marginal utility

Answer» c. total utility derived – price

Question:

The change in demand is due to the change in :

A.

Income

B.

Own price

C.

Prices of related products

D.

Expectations

Answer» b. Own price

Question:

In the equation C = 60 + 0.6 Y, MPC is

A.

60

B.

0.6

D.

1

Answer» b. 0.6

Question:

If the value of a variable varies as a consequence of the variation in the value of some other variable, it is called:

A.

Exogenous variable

B.

Endogenours v ariable

C.

Stock

D.

Flow

Answer» a. Exogenous variable