Economics - Study Mode
[#681] According to the classical theory of employment, deviations from the state of full employment are of
Correct Answer
(B) Purely temporary
[#682] The theory of revealed preference was propounded by?
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(C) Paul Samuelson
[#683] The ordinal utility analys is of consumer behaviour is considered superior to the cardinal utility analysis mainly due to the
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(C) Bifurcation of price effects into income and substitution effects
[#684] In measuring price-elasticity
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(B) price is an independent variable and quantity is a dependent variable
[#685] Match the following: List-I List-II a. For a given 10% change in price, demand changes by 0% 1. e > 1 b. For a given 10% change in price, demand changes by 5% 2. e = 1 c. For a given 10% change in price demand changes by 10% 3. e < 1 d. For a given 10% change in price, demand changes by 20% 4. e = 0
Correct Answer
(B) a-4, b-3, c-2, d-1