Managerial Economics - Study Mode
[#401] In case of an inferior commodity, the income elasticity of demand is
Correct Answer
(B) negative
[#402] An increase in injections into the economy may lead to
Correct Answer
(B) an outward shift of aggregate demand and demand pull inflation
[#403] Which of the following occupations should be included under the heading of "Primary production"? 1. Quarrying 2. Fishing 3. Farming 4. Coal mining
Correct Answer
(D) 1, 2, 3 and 4
[#404] Increase in demand due to decrease in price of that commodity is termed as
Correct Answer
(C) extension of demand
[#405] While analysing Marshall's measure of consumer's surplus one assumes
Correct Answer
(B) Perfect competition