Economics - Practice Test | ExamPrepSheets

[#691] On a less than perfectly elastic demand curve, the MR for a given price and output is equal to price multiplied by

(A) $$left[ {1 - e} ight]$$

(B) $$left[ {e - frac{1}{e}} ight]$$

(C) $$left[ {1 - frac{1}{e}} ight]$$

(D) $$left[ {frac{1}{e} - 1} ight]$$

Correct Answer

(C) $$left[ {1 - frac{1}{e}} ight]$$

[#692] Which one of the following is based on the market law of 'Say's'?

(A) Nurkse's theory of balanced development

(B) Vicious circle of poverty

(C) Keynes's low employment theory

(D) Harshman's theory of unbalanced development

Correct Answer

(C) Keynes's low employment theory

[#693] Which one of the following theories is not correct in the context of Central Limit Theorem?

(A) If a population from which a sample is drawn is normally distributed the sampling distribution of mean (SDM) will be normal for all sample sizes

(B) The mean of the SDM is the population mean

(C) If the population is not normal from which the sample is drawn, the SDM is not normal for any sample size

(D) If the population is not normal from which a sample is drawn, the SDM approaches normality as the sample size increases

Correct Answer

(C) If the population is not normal from which the sample is drawn, the SDM is not normal for any sample size

[#694] The field of business economic does not include

(A) Demand Forecasting

(B) Pricing decision

(C) Investment management decision

(D) Dividend decision

Correct Answer

(D) Dividend decision

[#695] Assertion (A): In 1991 Government decided to allow all foreign investments to any industry without any restrictions. Reason (R): Government has enhanced the investment limit of small scale industrial units.

(A) Both (A) and (R) are true and (R) is the correct explanation of (A)

(B) Both (A) and (R) are true but (R) is not the correct explanation of (A)

(C) (A) is true but (R) is false

(D) (A) is false but (R) is true

Correct Answer

(D) (A) is false but (R) is true

Economics - Study Mode

[#691] On a less than perfectly elastic demand curve, the MR for a given price and output is equal to price multiplied by

Correct Answer

[#692] Which one of the following is based on the market law of 'Say's'?

Correct Answer

[#693] Which one of the following theories is not correct in the context of Central Limit Theorem?

Correct Answer

[#694] The field of business economic does not include

Correct Answer

[#695] Assertion (A): In 1991 Government decided to allow all foreign investments to any industry without any restrictions. Reason (R): Government has enhanced the investment limit of small scale industrial units.

Correct Answer