Economics - Study Mode
[#1376] The responsiveness of changes in quantity demanded to change in price is known as
Correct Answer
(A) price elasticity of demand
[#1377] When the aggregate supply of food grains increases, the total income of the farmer falls. On this basis, state what will be the demand curve for food grains
Correct Answer
(A) Elastic
[#1378] Micro-economics deals primarily with
Correct Answer
(D) comparative statics, partial equilibrium and positive economics
[#1379] With reference to inflation, which of the following statement is/are correct? 1. Expansion of credit increase inflation 2. Inflation leads favourable trade surplus Select the correct answer
Correct Answer
(A) Only 1
[#1380] A consumer consuming two goods will be in equilibrium, when the marginal utilities from both goods are
Correct Answer
(C) equal