Which of the following would not be considered a normal good? (a) Steaks ; (b) flour ; (c). oranges ; (d) meals at restaurants

Which of the following would not be considered a normal good? (a) Steaks ; (b) flour ; (c). oranges ; (d) meals at restaurants
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 (b) flour ;
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A goods can be considered a normal goods in economics if increase in disposal income of the consumer causes (a) An increase in demand ; (b) No change in demand ; (c) Decrease in demand ; (d) Less than proportionate change in demand

Description : A goods can be considered a normal goods in economics if increase in disposal income of the consumer causes (a) An increase in demand ; (b) No change in demand ; (c) Decrease in demand ; (d) Less than proportionate change in demand

Last Answer : (a) An increase in demand ;

The mayor of NYC is planning to force restaurants to lower the salt content of their meals. Do you feel that this is a good idea?

Description : The mayor of NYC is planning to force restaurants to lower the salt content of their meals. Do you feel that this is a good idea?

Last Answer : Maybe after the get a handle on rodent control. lol

What restaurants have good diet meals delivered to you?

Description : What restaurants have good diet meals delivered to you?

Last Answer : BistroMD is the only diet delivery company founded by a weight loss physician, Dr. Caroline J. Cederquist. Years of scientific clinical research and experience allow bistroMD to stand apart from its competitors in nutritional value, quality and taste. ouo.io/fvKQXv

Which of the following would not be considered substitutes? (a) butter and margarine ; (b) Coke and Pepsi ; (c) Fords and Chevrolets (d) Hamburgers and french fries

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Last Answer : (d) Hamburgers and french fries

Which of the following would not be considered compliments? (a) shoes and socks ; (b) tennis racquet and tennis balls ; (c) Coke and Pepsi ; (d) automobiles and gasoline

Description : Which of the following would not be considered compliments? (a) shoes and socks ; (b) tennis racquet and tennis balls ; (c) Coke and Pepsi ; (d) automobiles and gasoline 

Last Answer : (c) Coke and Pepsi ;

A goods can be considered inferior goods in economics if increase in disposal income of the consumer causes (a) An increase in demand ; (b) No change in demand ; (c) Decrease in demand ; (d) Less than proportionate change in demand

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Last Answer : ; (c) Decrease in demand ;

Economics cannot be considered a perfect science because (a) Human behaviour is unpredictable (b) It is difficult to make correct prediction of economic variables (c) Economist do not have common opinion about a particular economic event (d) All the three

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Last Answer : (d) All the three

Assume Samantha likes hot dogs and hamburgers equally, and the price of hamburgers (a normal good) declines. She will most likely purchase more hamburgers; this is (a) a reflection of the income effect ; (b) a reflection the substitution effect; (c) a reflection of the income and substitution effects ; (d) None of above

Description : Assume Samantha likes hot dogs and hamburgers equally, and the price of hamburgers (a normal good) declines. She will most likely purchase more hamburgers; this is (a) a reflection of the income ... substitution effect; (c) a reflection of the income and substitution effects ; (d) None of above 

Last Answer : (b) a reflection the substitution effect;

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Last Answer :  (d) All the three

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Last Answer : (c) Normal in short run;

A firm that makes profit in excess of normal profit is earning (a) Economic profit ; (b) Costing profit ; (c) Normal profit ; (d) Super normal profit

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Last Answer : ; (d) Super normal profit

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Last Answer :  (c) Normal profit ;

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Last Answer : (a) Normal profit only ;

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Description : The income elasticity of demand of normal goods is generally (a) >1 ; (b) < 1 ; (c) < 0 ; (d) > 0 

Last Answer : ; (d) > 0

Full employment is the level at which there is (a) Zero unemployment ; (b) Normal rate of unemployment; (c) Lease supply of labor ; (d) Demand for goods is less than supply.

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Economic order quantity is that quantity at which cost of holding and carrying inventory is: (a) Maximum and equal (b) Minimum and equal(c) It can be maximum or minimum depending upon case to case. (d) Minimum and unequal

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Which of these is/are the feature of an underdeveloped economy? (a) Greater inequalities ; (b) High incidence of unemployment ; (c) Orthodox means of production ; (d) All the three

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In an agricultural family all the family members are working the farmland of the family. Due to addition of two more person in the family they are also working in the farmland of the family with no additional increase in farm output. This type of unemployment is known as (a) Cyclical unemployment ; (b) Disguised unemployment ; (c) Frictional unemployment (d) Seasonal unemployment

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Last Answer : (c) Hike in unemployment allowance ;

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Structural unemployment is mainly due to (a) Structural changes in the economy ; (b) Technological development (c) Growth in GDP ; (d) Population explosion.

Description : Structural unemployment is mainly due to (a) Structural changes in the economy ; (b) Technological development (c) Growth in GDP ; (d) Population explosion.

Last Answer : (a) Structural changes in the economy ;

Disguised unemployment refers to the situation when (a) Marginal Productivity of the surplus workers is zero (b) Marginal productivity of the surplus workers is less than average productivity (c) Marginal productivity of the surplus workers is falling sharply (d) Marginal productivity of the surplus workers is falling sharply

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Last Answer : (a) Marginal Productivity of the surplus workers is zero

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Last Answer :  (b) Rural areas ;

Disguised unemployment is mainly due to (a) Under employment ; (b) Seasonal nature of work ; (c) Strike and lock-out ; (d) Structural changes in the economy

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Last Answer : (a) Under employment ;

Sarvya Siksha Abhiyan policy was declared in (a) 2004 ; (b) 2001 ; (c) 1999 ; (d) 2003 ;

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Last Answer :  (b) 2001 ;

NTPC stands for (a) National Thermal Power Corporation ; (b) Naturopathy treatment project commission. (c) Natural thermal project company ; (d) National Thermal power commission

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Last Answer : (a) National Thermal Power Corporation ;

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Last Answer :  (b) Telecom Regulatory Authority of India

Regulatory framework for Telecom sector is provided by (a) MTNL ; (b) VANL ; (c) BSNL ; (d) TRAI

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Last Answer : (d) TRAI

BSNL stands for (a) British Sanchar Nigam Lt(d) ; (b) Bidesh Sanchar Nigam Lt(d) ; (c) Bharat Sanchar Nigam Lt(d) (d) Bhartiya Swadeshi Nigam Lt(d)

Description : BSNL stands for (a) British Sanchar Nigam Lt(d) ; (b) Bidesh Sanchar Nigam Lt(d) ; (c) Bharat Sanchar Nigam Lt(d) (d) Bhartiya Swadeshi Nigam Lt(d) 

Last Answer : (d) Bhartiya Swadeshi Nigam Lt(d)

Green revolution was successful because of use of ……. Seeds (a) HYV ; (b) Imported ; (c)Australian ; (d) Local seeds

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Last Answer : (a) HYV ;

Green revolution is also known as (a) Wheat revolution ; (b) Milk revolution ; (c) Grain revolution ; (d) Chipko movement

Description : Green revolution is also known as (a) Wheat revolution ; (b) Milk revolution ; (c) Grain revolution ; (d) Chipko movement

Last Answer : (a) Wheat revolution ;

Which of the following would not reduce the transaction cost in a market? (a) a real estate agent, when buying a house (b) a stock broker, when purchasing stock (c) a full page newspaper ad to sell your used lawn mower (d) a farmer’s market for fresh produce

Description : Which of the following would not reduce the transaction cost in a market? (a) a real estate agent, when buying a house (b) a stock broker, when purchasing stock (c) a full page newspaper ad to sell your used lawn mower (d) a farmer’s market for fresh produce

Last Answer : (c) a full page newspaper ad to sell your used lawn mower 

What will happen to the equilibrium price and quantity of peanut butter if peanuts increase in price and the price of jelly decreases? (a) the equilibrium price and quantity increase (b) the equilibrium price will fall and the equilibrium quantity will be indeterminate (c) the equilibrium price will rise and the equilibrium quantity will be indeterminate (d) None of above

Description : What will happen to the equilibrium price and quantity of peanut butter if peanuts increase in price and the price of jelly decreases? (a) the equilibrium price and quantity increase (b) the ... ) the equilibrium price will rise and the equilibrium quantity will be indeterminate (d) None of above 

Last Answer : (c) the equilibrium price will rise and the equilibrium quantity will be indeterminate 

Which of the following is correct for the price ceiling which is set below the market‟s equilibrium price? (a) quantity demanded exceeds quantity supplied at the set price; (b) quantity demanded is less than quantity supplied at the set price ; (c) at the set price there is a surplus ; (d) None of above

Description : Which of the following is correct for the price ceiling which is set below the market s equilibrium price? (a) quantity demanded exceeds quantity supplied at the set price; (b) quantity demanded is less than quantity ... the set price ; (c) at the set price there is a surplus ; (d) None of above 

Last Answer : (a) quantity demanded exceeds quantity supplied at the set price;

Which of the following is correct for a price floor set above the equilibrium price? (a) quantity supplied is less than quantity demanded at the set price.; (b) at the set price there will be a shortage; (c) quantity supplied exceeds quantity demanded at the set price ; (d) None of above

Description : Which of the following is correct for a price floor set above the equilibrium price? (a) quantity supplied is less than quantity demanded at the set price.; (b) at the set price there will be a shortage; (c) quantity supplied exceeds quantity demanded at the set price ; (d) None of above

Last Answer : (c) quantity supplied exceeds quantity demanded at the set price ;

If supply and demand both shift outward, but demand shifts outward more than supply, the equilibrium price (a) will increase and quantity will increase ; (b) will increase and quantity will decrease; (c) will decrease and quantity will decrease ; (d) will decrease and quantity will increase

Description : If supply and demand both shift outward, but demand shifts outward more than supply, the equilibrium price (a) will increase and quantity will increase ; (b) will increase and quantity will decrease; (c) will decrease and quantity will decrease ; (d) will decrease and quantity will increase

Last Answer : (a) will increase and quantity will increase ;

As a certain type of clothing becomes more fashionable, we would expect its equilibrium price (a) to decrease and quantity will remain constant ; (b) and quantity will decrease; (c) to increase and quantity to decrease ; (d) and quantity to increase

Description : As a certain type of clothing becomes more fashionable, we would expect its equilibrium price (a) to decrease and quantity will remain constant ; (b) and quantity will decrease; (c) to increase and quantity to decrease ; (d) and quantity to increase 

Last Answer : ; (d) and quantity to increase

A reduction in the number of producers will result in equilibrium price (a) increasing and quantity increasing ; (b) increasing and quantity decreasing ; (c) decreasing and quantity increasing ; (d) decreasing and quantity decreasing

Description : A reduction in the number of producers will result in equilibrium price (a) increasing and quantity increasing ; (b) increasing and quantity decreasing ; (c) decreasing and quantity increasing ; (d) decreasing and quantity decreasing

Last Answer : (b) increasing and quantity decreasing ;

A shift outward in supply curve will result in equilibrium price (a) increasing and quantity increasing ; (b) increasing and quantity decreasing ; (c) decreasing and quantity increasing ; (d) decreasing and quantity decreasing

Description : A shift outward in supply curve will result in equilibrium price (a) increasing and quantity increasing ; (b) increasing and quantity decreasing ; (c) decreasing and quantity increasing ; (d) decreasing and quantity decreasing

Last Answer : (c) decreasing and quantity increasing ;