LIST OF ATTEMPTED QUESTIONS AND ANSWERS

True/False Question Correct Answer True/False Question Correct Answer

A supply schedule is a graphical presentation of supply patterns. False

The subject matter of macro economics includes the theory of income and employment at an individual level. False

Select The Blank Question When demand for the product increases in the same proportion in which income increases, Income elasticity of demand will be equal to________ Correct unity Answer Multiple Choice Multiple Answer Question Features of stage of expansion in business cycle are Correct Answer Rise in national output , Rise in consumer and capital expenditure , Bank advances grow rapidly

Multiple Choice Multiple Answer Question Explicit costs are Correct Answer Out of pocket costs , These are firms accounting expenses , Expenditure costs

Multiple Choice Single Answer Question Demand for products like tea, betel, tobacoo, sigaratte is a matter of Correct Answer habit

Multiple Choice Single Answer Question If the substitutes are relatively cheaper then the demand for the commodity in question will be Correct Answer less

Multiple Choice Single Answer Question An assembly of several machines, linked together either physically or by processes, capable of producing a given quantity of a product per day is Correct plant Answer Multiple Choice Single Answer Question The Risk Taking Theory was developed by Hawley, who was an Correct Answer American Economist

Select The Blank Question The cost which enter the accounts book of the firm are referred as ________.