Bachelor of Arts in Economics (BA Economics)

A profit-maximizing firm in the short run will expand output:

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Question:

A profit-maximizing firm in the short run will expand output:

A.

until marginal cost begins to rise.

B.

until total revenue equals total cost.

C.

until marginal cost equals average variable cost.

D.

as long as marginal revenue is greater than marginal cost.

Answer» d. as long as marginal revenue is greater than marginal cost.

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

Standardised death rates are particularly useful for :

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Question:

Standardised death rates are particularly useful for :

A.

comparing the death rates in males and females

B.

comparing the death rates of two regions

C.

both (a) and (b)

D.

neither (a) or (b)

Answer» b. comparing the death rates of two regions

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

What are the two main components of business cycle theories?

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Question:

What are the two main components of business cycle theories?

A.

a description of shocks and a model of how the economy responds to them

B.

a model of how people decide to spend and a description of the government’s role in the economy

C.

a model of how equilibrium is reached and a description of the government’s role in the economy

D.

a description of shocks and a description of the government’s role in the economy

Answer» a. a description of shocks and a model of how the economy responds to them

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

When a purely competitive firm is in long-run equilibrium, price is equal to:

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Question:

When a purely competitive firm is in long-run equilibrium, price is equal to:

A.

marginal cost, but may be greater or less than average cost.

B.

minimum average cost, and also to marginal cost.

C.

minimum average cost, but may be greater or less than marginal cost.

D.

marginal revenue, but may be greater or less than both average and marginal cost.

Answer» b. minimum average cost, and also to marginal cost.

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