Bachelor of Arts in Economics (BA Economics)

Two sets A and B are said to be …………………. sets if no element of A is in B and noelement of B is in A.

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Question:

Two sets A and B are said to be …………………. sets if no element of A is in B and noelement of B is in A.

A.

universal

B.

disjoint

C.

equivalent

D.

none of these

Answer» b. disjoint

Note: The above multiple-choice question is for all general and Competitive Exams in India. 

Which of the following is true concerning observation method of data collection

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Question:

Which of the following is true concerning observation method of data collection

A.

it takes less time than self-report approaches

B.

it costs less money than self-report approaches

C.

it is often not possible to determine exactly why the people behave as they do

D.

all of the above

Answer» c. it is often not possible to determine exactly why the people behave as they do

Note: The above multiple-choice question is for all general and Competitive Exams in India. 

Free entry into monopolistically competitive market ensures that all firms will produce at the lowest point of LAC

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Question:

Free entry into monopolistically competitive market ensures that all firms will produce at the lowest point of LAC

A.

Always

B.

Sometimes

C.

Never

D.

Cannot say

Answer» c. Never

Note: The above multiple-choice question is for all general and Competitive Exams in India. 

____ is a simplified description of reality, designed to yield hypothesis about economicbehaviour that can be tested.

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Question:

____ is a simplified description of reality, designed to yield hypothesis about economicbehaviour that can be tested.

A.

theory

B.

postulate

C.

proposition

D.

economic model

Answer» b. postulate

Note: The above multiple-choice question is for all general and Competitive Exams in India. 

Which of the following is a criticism of the theory of monopolistic competition?

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Question:

Which of the following is a criticism of the theory of monopolistic competition?

A.

It is difficult to define a monopolistically competitive market and to determine the firms and products that comprise it

B.

When product differentiation is slight, each firm\s demand curve is nearly horizontal so the perfectly competitive solution provides an adequate approximation to the monopolistically competitive solution

C.

When there are strong brand preferences and few producers of many differentiated products, or when there are many producers but only a few compete as rivals for any given consumer, then the oligopoly solution provides an adequate approximation to the monopolistically competitive solution

D.

All of the above are correct

Answer» d. All of the above are correct

Note: The above multiple-choice question is for all general and Competitive Exams in India.