Solved MCQS of Economics
The shape of AR and MR under perfect competition is:
Vertical
None of these
Horizontal to ox-axis
U-shape
Consumer goods are those goods which are used by a man:
Directly
Indirectly
Off and On
Never
Inflation on prices:
Remains constant
Become zero
Increase
Decrease
What was the growth recorded by the manufacturing sector during 2005-06?
5.5percent
7.3percent
8.6percent
4.2 percent
Phases of trade cycle are:
Three
Four
Two
One
If pen and ink are complements, then an increase in the price of pen will cause:
Less ink to the demanded at each price
A rightward shift in the demand curve for ink
An increase in the price of ink
A decrease in the demand for pen
International trade has the benefits:
Two
Unlimited
Three
One
A market is said to be in equilibrium when:
The amount consumers wish to buy at the current price equals the amount producers wish to sell at that price
There is downward pressure on price
Demand equals output
All buyers are able to find sellers willing to sell to them at the current price
A tax on the accounting profits of corporations is known as:
Excise tax
Sales tax
Personal income tax
Corporate income tax
Real GDP is equal to:
Nominal GDP + Inflation
Inflation / Nominal GDP
Nominal GDP / Inflation
Nominal GDP – Inflation
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