Determination of the rate of interest
Determination of the market price
Determination of the wage rate
Determination of production of firm
A. Determination of the rate of interest
Maximum
Minimum
Equal
Lower
Equal to one
Greater than one
Smaller than one
Zero
important
materialized
accepted
rejected
Constant
Less elastic
More elastic
Perfectly elastic
Concave
Quasi-convex
Straight line
Convex
At the left of its lowest point
At its lowest point
At the right of its lowest point
None of the above
Constant average cost
Diminishing cost per unit of output
Optimum use of capital and factor
External economies
Shifts away from the commodity the price of which has fallen
Shifts in favour of a commodity the price of which has risen
Shifts away from a commodity the price of which has risen, in favour of a commodity the price of which has fallen
None of the above
Equal MU from both commodities X and Y
More MU from commodity X than from commodity Y
More MU from commodity Y than from commodity X
Equal marginal utility from the last rupee spent on commodity X and commodity Y
Led the Russian Revolution
Provided the theoretical basis for socialism(communism)
Developed his theory in response to the Great Depression of the 1930s
None of the above
University professors
Computer components
Building materials
Jet airplanes
Short period of time
Long period of time
Timeless production relationship
All of the above
Concave to the origin
Convex to the origin
Tangent to the origin
None of the above
Price theory
Demand theory
Supply theory
Income theory
Sets of points relating production function that maximizes output given input (labor) i.e. Q = f(L, K)
Sets of points relating production function that produces less output than possible for a given set of input (labor) i.e. Q < f(L, K)
Use of imported technology
None of the above
Equal to zero
Equal to one
Equal to infinity
More than one
Tea and sugar
Tea and coffee
Pen and ink
Shirt and trousers
Alfred Marshal
Lord Keynes
Karl Marx
Prof. Robbins
Change in its price causes a proportionately greater change in its quantity demanded
Change in its price does not change its quantity demanded
Change in consumers income causes change in demand
None of the above
Utility demand function
Compensated demand function
Collective demand function
Relative demand function
Negatively sloped
Vertical
Horizontal
Positively sloped
>
None of the above
A system of relative prices
A belief that employees work for the good of society
Government ownership of the means of production
Moral incentives to encourage productive efficiency
Productive resources such as labor and capital equipment that firms use to manufacture goods and services are called inputs or factors of production
Unproductive resources that do not take part in production process are called inputs or factors of production
Firms own resources are called inputs or factors of production
None of the above
Income rises
Income falls
Sales rises
Price falls
Double to that of AR
1/2 to that of AR
2/3 to that of AR
Four times to that of AR
Alfred Marshal
Adam Smith
Karl Marx
George Stigler
Directly related
Unrelated
Closely related
Negatively related
Positive
Negative
Neutral
Infinite
Total profit
Average profit
Net profit
Marginal profit