Quiz 4

Micro Economics quiz

  1. Zero Price Elasticity Of Demand Means
  2. whatever the change in price, there is absolutely no change in demand
    for a small change in price, there is a large change in demand
    for a large change in price, there is a small change in demand
  3. Which Of The Following Is The Most Close To The Definition Of Oligopoly?
  4. The cigarette industry
    The welding shop
    Wheat growing farmers
  5. Duopoly Is The Special Case Of Which Type Of Market Structure?
  6. Oligopoly
    Monopsony
    Monopoly
  7. Which Of The Following Correctly Describes The Nature Of India’s Economy?
  8. Mixed Economy
    Socialist Economy
    Capitalist Economy
  9. In Economic Terms, Globalization Is The Process Of Rapid ______ Between Countries.
  10. Integration
    Investment
    Competition
  11. A Good For Which Demand Decreases With Increase In Income Of Consumer Is Called
  12. Inferior good
    Giffen good
    Public good
  13. The Law Of Demand Implies That The Demand Curve
  14. slopes down
    first slopes up and then slopes down
    slopes up
  15. Which Of The Following Is Not Correct With Respect To Consumer Price Index?
  16. CPI-U is the Consumer Price Index for Rural Consumers.
    It measures the average change in prices of a basket of goods
    It is the most widely used measure of inflation
  17. Which Of The Following Is NOT Related To Microeconomics?
  18. Unemployment
    Labor Economics
    Demand, Supply, and Equilibrium
  19. Which Of The Following Is Measured By The Lorenz Curve?
  20. Inequality of Income
    Unemployment
    Population growth rate
  21. The Condition In Which Market Supply Matches Market Demand Is Called
  22. Equilibrium
    Normalisation
    Equalisation
  23. The Statement "Supply Creates Its Own Demand" Is Given By
  24. J.B. Say
    Thomas Jefferson
    James Madison
  25. Zero Price Elasticity Of Demand Means
  26. whatever the change in price, there is absolutely no change in demand
    for a large change in price, there is a small change in demand
    for a small change in price, there is a large change in demand
  27. The Law Of Demand States That:
  28. as the price rises, the demand falls
    as the price rises, the demand rises
    as the demand rises, the price rises
  29. A Situation Where The Expenditure Of The Government Exceeds Its Revenue Is Called ______.
  30. Budget Deficit
    Default Financing
    Deficit Revenue
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