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4

The marshallian indirect utility function in the form of equation is:

A. x =a-bp

B. x =b-ap

C.

D. x = f(P)

Correct Answer :

C.


Related Questions

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4

Liquidity of Preference Theory was introduced by:

A. Alfred Marshal

B. Lord Keynes

C. Karl Marx

D. Prof. Robbins

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4

In substitution effect and income effect:

A. The substitution effect is more certain

B. The income effect is more certain

C. The substitution effect is uncertain

D. The income effect is always positive

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4

Of the following, which one is a characteristic of monopolistic competition?

A. Standardized product

B. Differentiate product

C. Two firms

D. No entry

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4

The short run cost curve is U shaped because of:

A. The operation of increasing cost

B. The existence of fixed cost

C. The existence of variable cost

D. All of the above

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4

The relationship between MC and MP shown by the marginal cost concept is:

A. Inverse

B. Direct

C. Negative

D. Positive

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4

A market demand schedule is obtained by adding individual demand schedules:

A. Horizontally

B. Vertically

C. Permanently

D. Perpetually

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4

Economics define technology as:

A. Societys knowledge of production

B. Applied science

C. Knowledge of science and mathematics

D. None of the above

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4

Supply of a commodity refers to:

A. Total stock of a commodity in the market

B. Total production of a commodity during the year

C. Total production plus total stock of a commodity

D. Amount of commodity offered for sale at some price at a particular place and time

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4

The demand curve in monopolistic competition (also in kinked demand curve model), which shows the share of a firm in market is called:

A. Relative demand curve

B. Proportional demand curve

C. Productive demand curve

D. Differential demand curve

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4

Cardinal approach includes arranging:

A. The different combinations of X and Y higher and lower without actually measuring the difference of utility between them

B. The different combinations of X and Y higher and lower and measuring the difference of utility between them

C. Different combination of X, Y and Z

D. None of above

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4

In monopolistic competition (also in kinked demand curve model), a firm sells the amount where:

A. Individual demand curve (IDC) is equal to proportional demand curve (PDC)

B. Individual demand curve (IDC) is greater than proportional demand curve (PDC)

C. Individual demand curve (IDC) is less than proportional demand curve (PDC)

D. None of the above

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4

The slope of the iso-cost line (budget line) is determined by:

A. Pricing of two factors

B. Productivity of the two factors

C. Degree of substitutability of two factors

D. None of the above

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4

In centralized cartel, the firms are like:

A. Price takers

B. Price setters

C. Price discriminators

D. None of the above

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4

A demand curve which is horizontal and parallel to x-axis represents:

A. Infinitely elastic demand

B. Infinitely inelastic demand

C. Relatively elastic demand

D. Relatively inelastic demand

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4

Who wrote Mathematical Analysis for Economists?

A. J.P.Lewis

B. R.G.D.Allen

C. Paul A.Samuelson

D. E.D.Domar

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4

The cobweb model will divergent when the slope of:

A. Demand curve is more than supply curve

B. Supply curve is more than demand curve

C. Supply curve is equal to demand curve

D. None of the above

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4

If demand increased and supply decreased then:

A. Quantity exchanged might rise or fall and price would rise

B. Quantity exchanged would rise and price would fall

C. Quantity exchanged would rise and price might rise or fall

D. Both quantities exchanged and price would rise

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4

Elasticity (E) expressed by the term, 8 >E>1, is:

A. Perfectly elastic (infinitely elastic)

B. Relatively elastic (greater than one elasticity)

C. Unitary elastic

D. Relatively inelasticity (less than one elasticity)

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4

Elasticity of supply means change in supply due to change in:

A. Price of the commodity

B. Conditions of supply

C. Taste of the consumer

D. Demand for the commodity

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4

The modern cost curves are based upon the idea of:

A. Fixed capacity

B. Specific capacity

C. Excess capacity

D. Reserve capacity

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4

The effects according to which people use those goods which are concerned with distinctive standard of living are:

A. Bandwagon effects

B. Snob effects

C. Veblen effects

D. Steven effects

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4

Normally when price per unit of time falls:

A. Quantity demanded increases

B. Quantity demanded decreases

C. Quantity demanded remains constant

D. Quantity demanded becomes zero

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4

The Lambda or Langrange Multiplier is a:

A. Analyst

B. Catalyst

C. Pessimist

D. Optimist

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4

Which of the following curves is a rectangular hyperbola?

A. ATC

B. AVC

C. AFC

D. None of the above

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4

When a consumer is satisfied with his spending pattern, he is said to be in:

A. Balance stat

B. Equilibrium

C. Disequilibrium

D. Authenticated form

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4

The slope of marshallian demand curve is:

A. Upward

B. Vertical

C. Downward

D. Horizontal

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4

Which one of the following has been the most influential work of F.H.Knight?

A. Freedom and Reform

B. The Green Revolution

C. Economic Integration

D. Risk ,Uncertainty and Profit

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4

The concept of product differentiation was firstly introduced by:

A. Smith

B. Kaldor

C. Sraffa

D. Marshal

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4

The minimization of costs subject to output requires equilibrium at the lowest:

A. Isoquant line

B. Isocost line

C. Indifference curve

D. Price line

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4

The demand of the necessities is:

A. More elastic

B. Less elastic

C. Unit elastic

D. Zero elastic