(A) The slopes of the indifference curve and budget line are equal
(B) The slopes of the indifference curve and total product are equal
(C) The slopes of the total utility curve and budget line are equal
(D) The slopes of the total product curve and total utility curve are equal
Category: Economics Mcqs
Users will find here Economics Mcqs for NTS, CSS, PMS, PPSC, FPSC, KPPSC, AJKPSC, BPSC, PTS, SPSC, Lecturer and all other types of Competitive Exams and Interviews. Economics students can prepare their Economics Portion for all test from here.
__ operate under the principle of law of large numbers:
(A) Banks
(B) Insurance companies
(C) Government sponsored enterprises
(D) None of the given options
__ is the ratio of the probability of success to the probability of failure:
(A) Input output ratio
(B) Odds ratio
(C) Price earning ratio
(D) Price sales ratio
—————– is the difference between willingness to pay and what the consumer actually has to pay:
(A) Total Utility
(B) Consumer surplus
(C) Producer surplus
(D) Total product
Marginal utility measures:
(A) The slope of the indifference curve
(B) The additional satisfaction from consuming one more unit of a good
(C) The slope of the budget line
(D) The marginal rate of substitution
The law of diminishing marginal utility states that:
(A) As consumer consumes more and more units of any commodity, the
utility that consumer derives from each additional unit falls
(B) As consumer consumes more and more units of any commodity, the utility
that consumer derives from each additional unit rises
(C) As consumer consumes more and more units of any commodity, the utility
that consumer derives from each additional unit remains the same
(D) As consumer consumes less and less units of any commodity, the utility
that consumer derives from each additional unit falls
__ is the entire satisfaction one derives from consuming goods or services:
(A) Total utility
(B) Scarcity
(C) Marginal utility
(D) Rationing
Which of the following does not refer to macroeconomics?
(A) The study of aggregate level of economic activity.
(B) The study of causes of unemployment.
(C) The study of causes of inflation.
(D) The study of the economic behavior of individual decision-making units
such as consumers, resource owners and business firms.