In the case of luxury goods, the income elasticity of demand will be:

May 6, 2021 by admin

Question:

In the case of luxury goods, the income elasticity of demand will be:

Less than unity

Unity

More than unity

All the above

Answer» c. More than unity

Note:

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

An Indifference Curve to the right of another represents combinations which are:

May 6, 2021 by admin

Question:

An Indifference Curve to the right of another represents combinations which are:

Indifferent

Preferable

Inferior

Superior

Answer» b. Preferable

Note:

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

When an insurer transfers a part of risks on particular policy by insuring it with someothers. Then it is called—————

May 6, 2021 by admin

Question:

When an insurer transfers a part of risks on particular policy by insuring it with someothers. Then it is called—————

insurance

association

re –insurance

mutual companies.

Answer» c. re –insurance

Note:

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

A set containing only one element is termed as

May 6, 2021 by admin

Question:

A set containing only one element is termed as

unit set

singleton set

both (a) and (b)

none of these

Answer» c. both (a) and (b)

Note:

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

The signed minor of the matrix A is called

May 6, 2021 by admin

Question:

The signed minor of the matrix A is called

adjoint

co-factor

minor

rank

Answer» b. co-factor

Note:

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

When the demand for a good is given by Q=50-P, the maximum amount that would bedemanded at nil price

May 6, 2021 by admin

Question:

When the demand for a good is given by Q=50-P, the maximum amount that would bedemanded at nil price

Answer» d. 50

Note:

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

Income is a ——- variable

May 6, 2021 by admin

Question:

Income is a ——- variable

flow

discontinuous

stock

none of the above

Answer» a. flow

Note:

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

When saving is greater than investment in a two-sector model,

May 6, 2021 by admin

Question:

When saving is greater than investment in a two-sector model,

Output should increase

Output should decrease

Output should not change

None of these

Answer» b. Output should decrease

Note:

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

if all factors of production are increased in a given proportion, outputalso increased in a same proportion:

May 6, 2021 by admin

Question:

if all factors of production are increased in a given proportion, outputalso increased in a same proportion:

second degree

first degree

third degree

none

Answer» b. first degree

Note:

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

In the linear equation ‘ax+by = c’ the a and b cannot be equal

May 6, 2021 by admin

Question:

In the linear equation ‘ax+by = c’ the a and b cannot be equal

to rational numbers

to one

to zero

set of even numbers

Answer» c. to zero

Note:

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