vu eco401 Final Term - Quiz No.1
vu eco401 Economics Quiz
This quiz belongs to book/course code vu eco401 Economics of vu organization. We have 33 quizzes available related to the book/course Economics. This quiz has a total of 10 multiple choice questions (MCQs) to prepare and belongs to topic Final Term. NVAEducation wants its users to help them learn in an easy way. For that purpose, you are free to prepare online MCQs and quizzes.
NVAEducation also facilitates users to contribute in online competitions with other students to make a challenging situation to learn in a creative way. You can create one to one, and group competition on an topic of a book/course code. Also on NVAEducation you can get certifications by passing the online quiz test.
Question 1: LM curve shows the equilibrium in:
Money Market.
Goods Market.
Labor Market.
Financial Market.
Question 3: All of the following conditions lead to the successful operation of a cartel EXCEPT
Market demand for the good is relatively inelastic
The cartel supplies all of the worlds output of the good
Cartel members have substantial cost advantages over non-member producers
The supply of non-cartel members is very price elastic
Question 5: A group of modern economists who believe that markets clear very rapidly and that expanding the money supply will always increase prices rather than employment are the:
Keynesians
Monetarists
New Classical school
Post-Keynesians
Question 6: The rate at which a firm can substitute capital for labour and hold output constant is the:
Law of diminishing marginal returns.
Marginal rate of substitution.
Marginal rate of technical substitution.
Marginal rate of production.
Question 8: The shape of production possibilities curve is:
Concave.
Convex.
Linear.
Positive.
Question 9: In which condition, the IS curve will shift to the right?
Consumer confidence in the economy improves.
Firms become more optimistic about the economy and decide to invest more at each interest rate.
The government increases transfer payments.
It will shift to the right in all of the given conditions.
Question 10: The demand curve for eggs is downward-sloping. Suddenly the price of eggs decreases from Rs.60/- per dozen to Rs.50/- per dozen. This will cause:
The demand curve for eggs to shift leftward.
Quantity demanded of eggs to decrease.
The demand curve for eggs to shift rightward.
Quantity demanded of eggs to increase.
