R.G.Lipsey
Paul.A.Samuelson
E.D.Domar
J.M.Keynes
A. R.G.Lipsey
More units
Less units
Same units
Zero units
Government
Consumer
Producer
Stock holder
higher prices
zero prices
lower prices
specific prices
Other things being equal
Because of this
Due to this
All the factors changes at the same rate
Circle
Rectangle
Parabola
None of the above
Classical approach
Keynesian approach
Neo-classical approach
Modern approach
Q = f(L)
U =f(X)
Q =f(K)
Q =f(L,K)
Current demand for computers will fall
Current demand for computers will rise
Current demand will change unpredictably
Current supply of computers will rise
Alfred Marshal
Adam Smith
J.B.Clark
Hicks, Longe and Durbin
Equating price and marginal revenue
Equating price and average total cost
Increasing marginal cost and lowering fixed costs
Equating marginal cost and marginal revenue
Lead to greater specialization
Offsets the effects of the law the law of comparative advantage
Lead to greater diversification of individual production
Cause firms to use more capital and less labor
Infinite
Zero
Equal to one
None of the above
Downward
Upward
Horizontal
Straight line
U = x1 x2
U = x1 + x2
U = y1 +x1
U = x1.x2
Budget line and indifference curve intersect each other
Budget line and indifference curve are tangent to each other
Budget line and indifference curve are opposite to each other
Budget line and indifference curve are parallel to each other
Constant
Less elastic
More elastic
Perfectly elastic
Producer
Consumer
Seller
Firm
None of the factors are variable in the long-run
All factors are perfectly divisible in the long-run
None of the factors is divisible
Management factor is indivisible while all other factors are divisible and can be varied in long-run
Chamberline
Sraffa
Carl marx
Robinson
Do not effect equilibrium
Affect equilibrium
Both a and b
None of the above
>
None of the above
Labor theory of value
Individual theory of value
Producer theory of value
Consumer theory of value
When there is a single producer
When there is a single producer without any close substitute
When there is a single producer with close substitutes
When a few producers control the industry
Exact science
Inexact science
Pure science
All of the above
Get steeper
Shift parallel to right
To get flatter
To shift upward
1756
1777
1776
1801
Less than one
Equal to one
Greater than one
Less than one
Extra price benefits
Shortage of quantity
Surplus of quantity
Difference between actual price and potential price
Slutsky approach
Hicksian approach
Marshallian approach
None of the above
Save as much of his income as possible
Spend as much of his income as possible
Buy everything at the lowest possible price
Make wise choices among available economic goods