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 Multiple Choice QuestionsMultiple Choice Questions

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1.

If demand curve for camping tents is D = 100000-17P and the supply curve is S = 50000 + 8P, find the equilibrium price?

  • 1000

  • 2000

  • 4000

  • 500


2.

Value of total Goods and Services produced in a country is its

  • Gross Domestic Product

  • Gross Revenue Income

  • Total Goods Revenue

  • Total Income


3.

Lowering of value of currency relative to a foreign reference currency is called ........

  • Devaluation

  • Revaluation

  • Down valuation

  • Negative valuation

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4.

A company faces a -2.5 price elasticity of demand for its product. It is presently selling 10,000 units/month. If it wants to increase quantity sold by 6%. it must lower its price by

  • 3.50%

  • 15%

  • 2.50%

  • 2.40%

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5.

In 2015 the nominal rate of interest in country was 6% and the inflation rate then was 1.5%. So real rate of interest in 2015 was

  • 7.50%

  • 4.50%

  • 4%

  • 0.25%

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6.

The goods which people consume more, when their price rises, are called.........

  • Essential goods

  • Capital goods

  • Veblen goods

  • Giffen goods

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7.

Who coined the term 'Ecology'?

  • Ernst Haeckel

  • G. Evelyn Hutchinson

  • Hugo de Vries

  • Robert Brown

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8.

When will demand become a grant?

  • When a demand is proposed

  • After the discussion on demand is over

  • After the demand is granted

  • After the demand is granted

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9.

When will demand become a grant?

  • When a demand is proposed

  • After the discussion on demand is over

  • After the demand is granted

  • After the demand is granted

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10.

When income increases, consumption also increases

  • in the same proportion

  • in a lower proportion

  • in a higher proportion

  • in a higher proportion

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