vu eco401 Final Term - Quiz No.19
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: Which of the following shows the condition for consumer's equilibrium?
Marginal utility per dollar spent on each good being equalized across all goods.
The ratio of (marginal utility per unit of the good)/ (price per unit of the good) being equalized across all goods.
The ratio of marginal utilities being equated to the ratio of prices for all possible pairs of goods.
All of the given options.
Question 2: Gross Domestic Product (GDP) is:
Net National Product (NNP) plus depreciation
National income discounted by the GDP deflator
Income from foreign investments
Gross Domestic Product (GDP) minus depreciation
Question 3: How the government increases paper currency component of the money supply?
Households sell gold to the government in returns for currency.
The government gives newly created currency to households.
The government gives paper currency to the banks.
The government exchange paper currency for government securities.
Question 4: Monopolists produce lower quantities at higher prices compared to perfectly competitive firms, because monopolists do not produce where
Marginal cost = marginal revenue
Average revenue = marginal cost
Price = average variable cost
Price = marginal cost
Question 5: Choose the correct word or phrase to complete the sentence.
I don't agree with you, but your idea certainly gives me food __________.
I don't agree with you, but your idea certainly gives me food __________.
for thinking
for consider
for thought
for fun
Question 6: Indifference curves that are convex to the origin reflect:
An increasing marginal rate of substitution.
A decreasing marginal rate of substitution.
A constant marginal rate of substitution.
A marginal rate of substitution that first decreases then increases.
Question 7: How many methods are there to measure Gross Domestic Product?
Three
Four
Five
Six
Question 8: According to Keynesian economics, the Inflation is negatively related with:
Level of income.
Employment
Poverty
Unemployment
Question 9: A firm never operates:
At the minimum of its average total cost curve.
At the minimum of its average variable cost curve.
On the downward-sloping portion of its average total cost curve.
On the downward-sloping portion of its average variable cost curve.
Question 10: A total cost curve:
Relates output with total cost.
Is always upward sloping.
Gets steeper as output rises, due to diminishing marginal product of an input.
All of the given options.
