Economics 2011 | Study Mode

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Question 1
A
increase productivity
B
reduce income tax
C
ration available output
D
increase imports
Explanation

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Correct option: A
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Question 2
A
no indication of technological development
B
no recognition of preferred goods for countries
C
technical inefficiency
D
abundant resources
Explanation

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Correct option: B
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Question 3
A
not useful for large data
B
not suitable for further statistical analysis
C
cumbersome to determine the actual value
D
affected by extreme data
Explanation

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Correct option: D
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Question 4
A
scale of preference
B
cousumer sovereignty
C
cosumer rationality
D
price of the commodity
Explanation

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Correct option: B
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Question 5
A
benefits derived from consuming a cheap commodity
B
excess of total expenditure over total uility
C
difference between marginal utility and marginal cost
D
excess of marginal utility over price
Explanation

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Correct option: D
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Question 6
A
complementary demand
B
competitive demand
C
composite demand
D
derived demand
Explanation

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Correct option: B
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Question 7
A
remain unchanged
B
shift inward
C
fall
D
rise
Explanation

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Correct option: D
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Question 8
A
MP=0
B
MP > 0
C
AP = 0
D
AP > 0
Explanation

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Correct option: A
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Question 9
A
sum of the prices
B
product of the two prices
C
ratio of the two prices
D
difference of the two prices
Explanation

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Correct option: A
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Question 10
A
reduce supply
B
increase supply
C
reduce demand and create surplus
D
increase demand and create scarcity
Explanation

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Correct option: C

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