MCQ 20

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1. Marginal utility is equal to average utility at that time when average utility is 
1:Increasing
2:Maximum ✔
3:Falling 
4:Minimum

 2. At point of satiety, marginal utility is: 
A) Zero 
 B)Positive ✔
C) Maximum 
D) Negative 

 3.Total utility of a commodity is measured by which price of that commodity? 
A) Value in use ✔
 B)Value in exchange 
C) Both of above 
D) None of above 

 4.According to Marshall, the basis of consumer surplus is: 
A) Law of diminishing marginal utility ✔
B)Law of equi-marginal utility 
C) Law of proportions 
D) All of the above 

 5.Development means economic growth with:
A) price stability 
B)social change ✔
C) deflation 
D) inflation 

 6.Which of the following is/are major develop-ment Issues in India? 
1. low percapita income 
2. substantial preportion of population below poverty line 
3. problem of unemployment 
4. imbalance in distribution and growing inequalities 
5. huge expense on developmental programmes 
Code:
A) 1, 2 and 5 
B)2, 3 and 4 
C) 1, 2, 3 and 4 ✔
D) 4 and 5

 7.Capital intensive or labour intensive is related with which of the following economic problems ?
1.what to produce 
2.how to produce ✔
3.for whom to produce 
4.when to produced

 8..What happens in case of marginal utility of money ?
1.decrese 
2.increaese 
3.constant
4.None✔

 9.What happens in case of marginal utility of goods & services?
1.decrese ✔
2.increaese 
3.constant
4.None

 10.A positive externality in which a consumer wishes to possess a good in part because others do: 
(a)Supply  ✔
(b)Concavity  
(c)Money demand  
(d)None of these

 11.If the consumption of an additional unit of a commodity cause no change in total utility,MU will be :-
1.zero✔
2.constant 
3.both
4.none

 12.Marginal cost is not affected by :-
1.AC
2.AFC
3.TFC✔
4.AFC & TFC

 13.What's happenin to TR when MR increasing ?*
1.TR increasing at an increasing rate 
2.TR increasing at a dismissing rate ✔
3.TR increasing at a constant rate 
4.None

 14.According to monetary approach of Balance of Payments, the demand for money is a stable function of     
(a) income, prices and rate of interest
(b) income and prices  ✔
(c) prices and rate of interest   
(d) income, prices and foreign exchange reserves

 15.Which's one incorrect? 
A.On a linear demand curve, all the five forms of elasticity can be depicted

 B.If two demand curves are linear and intersecting each other, then, coefficient of elasticity would be same on different demand curves at the point of intersection.✔

 C.If two demand curves are linear and parallel to each other, then, at a particular price, the coefficient of elasticity would be different on different demand curves.

 D.The price elasticity of demand is expressed in terms of relaive not absolute changes in Price and Quantity demanded.

 16.1.  When there is Liquidity Trap:
a. Money demand increases interest rate 
b. Money demand decreases interest rate
c. Money demand curve is vertical
d. Both
e. None ✔

 17.The price of a commodity X in perfect competition is ₹ 25. What will be the marginal revenue of selling 200th unit ?  
(a) ₹ 25✔ (b) ₹ 5,000 
(c) ₹ 80  (d) ₹ 225

 18.If the demand function is P= 20 - 3D   and supply function is P=2D then consumers surplus is
A) 22
B) 25
C) 28
D) None✔

 19.A demand curve is considered as Rectangular Hyperbola when :  
(a) e > 1 
(b) e = 1 ✔
(c) e < 1  
(d) e = 0

 20.Producers’ surplus is equal to the difference between   
(a) Price and Marginal cost curve ✔
(b) Price and Marginal utility curve  
(c) Average cost and Marginal cost  
(d) Total cost and Marginal cost

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