Question:

Which of the form of monopoly regulation is the most advantages tothe consumer

A.

Price control

B.

Lump sum tax

C.

Per unit tax

D.

All of the above

Answer» a. Price control

Question:

The equilibrium point in game theory is called:

A.

Prisoner’s dilemma

B.

Break-even point

C.

Saddle point

D.

Shut down point

Answer» c. Saddle point

Question:

The book ‘Theory of Monopolistic Competition’ is written by:

A.

J.Robinson

B.

J.M. Keynes

C.

Adam Smith

D.

E. Chamberlin

Answer» d. E. Chamberlin

Question:

Selling more than one product at a single price

A.

Dumping

B.

Bundling

C.

Discounting

D.

Off loading

Answer» b. Bundling

Question:

Open market operation influences

A.

The reserves of commercial banks

B.

The market rate of interest

C.

Both A and B

D.

None of the above

Answer» c. Both A and B

Question:

Only Money Matters is Propounded by:

A.

Keynesians

B.

Monetarists

C.

Classicals

D.

Neo-Classicals

Answer» b. Monetarists

Question:

A firm should always continue to operate at a loss in the short run if:

A.

the firm will show a profit.

B.

the owner enjoys helping her customers.

C.

it can cover its variable costs and some of its fixed costs.

D.

the firm cannot produce any other products more profitably.

Answer» c. it can cover its variable costs and some of its fixed costs.

Question:

Average revenue curve under perfect competition is

A.

Upward sloping

B.

Downward sloping

C.

Horizontal straight line

D.

Vertical straight line

Answer» c. Horizontal straight line

Question:

If an oligopolist incurs losses in the short run, then in the longrun

A.

The oligopolist will go out of business

B.

The oligopolist will stay in business

C.

The oligopolist will break-even

D.

Any of the above

Answer» d. Any of the above

Question:

Assertion (A): Necessity led to the invention of moneyReason(R) : Barter system failed to perform the major functions of money

A.

(A) is true but (R) is false.

B.

Both (A) and (R) are false

C.

Both (A) and (R) are true and (R) is the correct explanation of (A)

D.

Both (A) and (R) are true but (R) is not the correct explanation of (A)

Answer» d. Both (A) and (R) are true but (R) is not the correct explanation of (A)