Thursday, February 2, 2012

Economics CS Exams MCQs

1) In perfect competition if a firm maximizes profit, then equilibrium:

a) MR=MC.

b) AR = AC

c) MR = AR = PRICE = MC

d) ALL of these

2) The production function will be affected by changes in the prices of:

a) Inputs b) out puts c) Neither d)all of the above

3) If a firm can fund an investment from its own sources, the opportunity cost of its investment is

a) less than Zero b) Zero c) more than zero d) neither

4) The funds used for further Investment in joint stock company refers to:

a) Distributed

b) Undistributed

c) Remaining

d) All of the above

5) The % change in quantity demanded due to % change in income is:

a) Price elasticity

b) Prices cross elasticity

c) Income elasticity

d) All of these

6) Indifference curves shows various combinations of:

a) One commodity

b) Two

c) Three

d) All of these.

7) equilibrum price is a price at which

a) Quantity demanded is equal to quantity supplied

b) Quantity demanded minus quantity supplied is zero

c) Quantity demanded = quantity supplied

d) All of these.

8) in oligopoly market seller are :

a) Few

b) Four

c) Some

d) A large number

9) monopoly market is characterized by:

a) A large number of sellers

b) Only one seller

c) Thousands of seller

d) All of these

10) A demand curve shows the relationship between the quantity demanded for a commodity over a given time and:

a) The tastes of consumer.

b) The money income of consumer

c) The price of related commodities

d) The price of the commodity

11) a supply schedule shows the relationship between the quantity supplied of a commodity over a given time and:

a) Factor prices

b) Technology

c) Both (a) and (b)

d) The price of the commodity

12) The intersection of market demand and supply curves for a given commodity determines

a) The equilibrium price of the commodity

b) The equilibrium quantity of the commodity

c) The point of neither surplus nor shortage for the commodity

d) All of these

13) If the % change in quantity demanded is more than % change in price coefficient of price elasticity is:

a) > 1 b) < 1 c) =1 d) =Zero

14) Disposable income is:

a) Income less taxes b) Income less Direct taxes c) Income less indirect taxes d) All of these

15) If the coefficient of Price elasticity is less than one:

a) It is normal good b) It is inferior good c) It is luxury good d) All of these

16) If the coefficient of income elasticity is negative:

a) It is inferior good

b) It is normal good

c) It is luxury good

d) All of these

17) If in a market the seller is charging different prices for the same commodity from different consumers, it is known as:

a) Price discrimination b) Efficient selling c) Profit maxi-mizer in Monopoly d) All of these

18) The locus of equilibrium of consumers due to changes in price of a commodity is known as:

a) Price consumption curve b) Income consumption curve

c) Production possibility curve d) none of these

19) a pure number by which change in investment is multiplied to change in income is called:

a) Multiplier

b) Accelerator

c) Stabilizer

d) All of these

20) There is positive relationship between multiplier and:

a) Marginal propensity to consume

b) Marginal propensity to save

c) Marginal efficiency of capital

d) All of these.

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