Saurday 24th oct 2009
total marks 100
negative -1
QUESTIONS.
1. If the quantity of X increases whenever the price of X decreases, one can conclude that?
Ans.
2. The marginal utility of a good refers to the
a. Total utility of the good prior to consumption of the last unit
b. Extra utility associated with consuming another unit of the good
3. When a firm is experiencing economies of scal.
A. The mp curve slopes upward
b. The LRAC curve slopes dnwnward
c. Mc curve slopes dnwnward
4. Microeconomics covers the behavior of
A. individual economy
b. Total firms
5. Actual gdp may exceed potential gdp for a short period of time when?
6. Who introduced stages of economic growth?
7.human capital formation refers to the process of
a. Increasing no of people
b. Physical growth of capital
c. Increasng knowlge and capablities of people
8.the demand for a good is price inelastic if?
9. Transaction demand for money depends upon?
10. In Rostow's theory of stages of growth the last of the stages is?
11. A basic asumption of the theory of consumption choice is that?