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Who wrote An Introduction to Positive Economics?

A. R.G.Lipsey

B. Paul.A.Samuelson

C. E.D.Domar

D. J.M.Keynes

Correct Answer :

A. R.G.Lipsey


Related Questions

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According to law of Equi-Marginal Utility when price of commodity falls then we bought:

A. More units

B. Less units

C. Same units

D. Zero units

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7.In an economy based on the price system the decision on what shall be produced is made by:

A. Government

B. Consumer

C. Producer

D. Stock holder

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The low cost price leader will charge:

A. higher prices

B. zero prices

C. lower prices

D. specific prices

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The Latin term citeris paribus means:

A. Other things being equal

B. Because of this

C. Due to this

D. All the factors changes at the same rate

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The total revenue curve for monopolist is the shape of:

A. Circle

B. Rectangle

C. Parabola

D. None of the above

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The isoquant approach is:

A. Classical approach

B. Keynesian approach

C. Neo-classical approach

D. Modern approach

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Classical production function is:

A. Q = f(L)

B. U =f(X)

C. Q =f(K)

D. Q =f(L,K)

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If the consumers expect that the price of computers will decrease in next year then:

A. Current demand for computers will fall

B. Current demand for computers will rise

C. Current demand will change unpredictably

D. Current supply of computers will rise

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Robbins definition of economics was criticised by:

A. Alfred Marshal

B. Adam Smith

C. J.B.Clark

D. Hicks, Longe and Durbin

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In the short-run, the competitive firm can maximize its profits (or minimize its losses) by:

A. Equating price and marginal revenue

B. Equating price and average total cost

C. Increasing marginal cost and lowering fixed costs

D. Equating marginal cost and marginal revenue

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Economies of large-scale production:

A. Lead to greater specialization

B. Offsets the effects of the law the law of comparative advantage

C. Lead to greater diversification of individual production

D. Cause firms to use more capital and less labor

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If the demand curve is horizontal then its slope is:

A. Infinite

B. Zero

C. Equal to one

D. None of the above

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Because of selling costs, the demand curve of a firm shifts:

A. Downward

B. Upward

C. Horizontal

D. Straight line

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We can write ordinal utility function as:

A. U = x1 x2

B. U = x1 + x2

C. U = y1 +x1

D. U = x1.x2

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The consumer is in equilibrium at the where:

A. Budget line and indifference curve intersect each other

B. Budget line and indifference curve are tangent to each other

C. Budget line and indifference curve are opposite to each other

D. Budget line and indifference curve are parallel to each other

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The longer the period of time, the elasticity of supply will be:

A. Constant

B. Less elastic

C. More elastic

D. Perfectly elastic

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The cost of production is faced by a:

A. Producer

B. Consumer

C. Seller

D. Firm

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The long-run average cost is based on the fact that:

A. None of the factors are variable in the long-run

B. All factors are perfectly divisible in the long-run

C. None of the factors is divisible

D. Management factor is indivisible while all other factors are divisible and can be varied in long-run

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Two policy variables, product and selling activities in the theory of firm was introduced by:

A. Chamberline

B. Sraffa

C. Carl marx

D. Robinson

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In sweezy model (kinked demand curve model), the overall increase in costs of production:

A. Do not effect equilibrium

B. Affect equilibrium

C. Both a and b

D. None of the above

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If the commodities X and Y are perfect substitutes then:

A.

B.

C. >

D. None of the above

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The water diamond paradox was firstly resolved with the help of:

A. Labor theory of value

B. Individual theory of value

C. Producer theory of value

D. Consumer theory of value

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Pure monopoly exists:

A. When there is a single producer

B. When there is a single producer without any close substitute

C. When there is a single producer with close substitutes

D. When a few producers control the industry

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Economics is a:

A. Exact science

B. Inexact science

C. Pure science

D. All of the above

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When the income of consumer increases then budget line will:

A. Get steeper

B. Shift parallel to right

C. To get flatter

D. To shift upward

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When was Adam Smiths major work An Enquiry into the Nature and Causes of Wealth of Nations published?

A. 1756

B. 1777

C. 1776

D. 1801

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A monopolist will fix the equilibrium output of his product where the elasticity of his average revenue curve is:

A. Less than one

B. Equal to one

C. Greater than one

D. Less than one

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Consumers Surplus can also be defined as:

A. Extra price benefits

B. Shortage of quantity

C. Surplus of quantity

D. Difference between actual price and potential price

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Price effect occurs on the higher IC in case of:

A. Slutsky approach

B. Hicksian approach

C. Marshallian approach

D. None of the above

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Rational economic behavior on the part of the consumer means that he will:

A. Save as much of his income as possible

B. Spend as much of his income as possible

C. Buy everything at the lowest possible price

D. Make wise choices among available economic goods