(1)If the_______________firm has zero costs or only has fixed cost, the quantity supplied in equilibrium is given by the point where the marginal revenue is

(1)The demand for a inferior good decreases with_______________in the consumer’s income. (a)increase (b)decrease (c)constant (d)double Ans-a(increase) (2)Goods for which the quantity that a consumer chooses,

(1)The demand for a inferior good increases with_______________in the consumer’s income. (a)increase (b)decrease (c)constant (d)double Ans-b(decrease) (2)Goods for which demand move in the opposite direction

(1)If the_________________firm has zero costs or only has fixed cost, the quantity supplied in equilibrium is given by the point where the average revenue is

(1)The______________balance is the sum of the balance of merchandise trade, services and net transfers from the rest of the world. (a)Current Account (b)Saving Account (c)Capital

(1)The demand for a normal good decreases with_________________in the consumer’s income. (a)increase (b)decrease (c)constant (d)double Ans-b(decrease) (2)Short run marginal cost curve cuts the short run

(1)The______________balance is equal to capital flows from the rest of the world, minus capital flows to the rest of the world. (a)Current account (b)Saving Account (c)Capital

(1)India’s first official census operation was undertaken in which year? (a)1841 (b)1881 (c)1921 (d)1961 Ans-b(1881) (2)The change in the optimal quantity of a good when

(1)In________________the short-run equilibrium results in quantity produced being lesser and prices being higher compared to perfect competition. (a)Monopsony (b)Monopoly (c)Oligopoly (d)Monopolistic Competition Ans-d(Monopolistic Competition) (2)The average product

(1)The marginal product curve is inverse_______________shaped. (a)X (b)W (c)V (d)U Ans-d(U) (2)Goods which are consumed together are called? (a)Inferior goods (b)Normal goods (c)Complementary goods (d)Substitute