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Quiz Start Time: 07:54 PM
Question # 1 of 20 ( Start time: 07:54:32
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Total Marks: 1
Price floor results in:
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Question # 2 of 20 ( Start time: 07:55:29
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Which of the following is TRUE about the total cost curve?
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Question # 3 of 20 ( Start time: 07:56:59
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The law of diminishing marginal utility indicates that the demand curve is:
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Question # 4 of 20 ( Start time: 07:58:18
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Which one of the following is most likely to lead to an increase in aggregate demand? If
there is increase in:
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Quiz Start Time: 07:54 PM
Question # 5 of 20 ( Start time: 07:59:19
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Since more substitutes of Pepsi are available in the market like Coca Cola, Sprite etc., the
demand for Pepsi is said to be __________ in response to change in price.
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Question # 6 of 20 ( Start time: 08:00:34
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The law of diminishing returns assumes:
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Question # 7 of 20 ( Start time: 08:01:40
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Suppose a firm hires five workers and offers them to pay Rs. 350 for 6 hours. Later on,
firm decides to increase working hours instead of hiring new workers. As working
hours increase, the wage rate:
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Question # 8 of 20 ( Start time: 08:02:59
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Accounts office of Z&X corporations has paid Rs 250000 on account of profit in the
month of August 2011. Which of the following the Accounts Office has paid for?
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Question # 9 of 20 ( Start time: 08:04:11
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The opportunity cost of an action is:
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Question # 10 of 20 ( Start time: 08:04:54
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A rational person does not act unless:
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Question # 11 of 20 ( Start time: 08:06:19
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Assume that there is no government or foreign sector, if the marginal propensity to
consume (MPC) is 0.60, then the value of multiplier will be equal to:
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Question # 12 of 20 ( Start time: 08:07:43
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The price level in long run is determined by:
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Question # 13 of 20 ( Start time: 08:09:06
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Total income minus net taxes is called:
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Question # 14 of 20 ( Start time: 08:09:53
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Suppose to hire the next worker, the firm pays Rs. 75. This Rs. 75 is the:
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Question # 15 of 20 ( Start time: 08:11:04
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An important difference between the approaches of the classical and Keynesian
economists use to achieve a macroeconomic equilibrium is that:
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Question # 16 of 20 ( Start time: 08:12:16
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Total Marks: 1
Suppose Fauji Fertilizer Company Limited produces 5000 bags of Sona Urea and sells
each bag at a price of Rs. 350. What is the average revenue this firm gets by selling all
units?
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Question # 17 of 20 ( Start time: 08:13:44
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If the cross price elasticity of demand between two products is +3.5, then:
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Question # 18 of 20 ( Start time: 08:14:32
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Suppose that 24 units of output are produced by using 6 units of labor. Which of the
following is TRUE in this context?
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Question # 19 of 20 ( Start time: 08:15:44
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Deflation is:
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Question # 20 of 20 ( Start time: 08:16:42
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Rising inflation means that price level is rising at a(n):
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