MCQs Economics – 4

1. A market is said to be in equilibrium when

2. The shape of AR and MR under perfect competition is

3. The supply of perishable goods is

4. Due to devaluation exports become

5. As more of a good is consumed, then total utility typically

6. The quality of a commodity that satisfies human wants

7. During a year aggregate value of produced goods and services of a country is called

8. The reward for labour is

9. A monopolistically competitive firm in the long run equilibrium

10. Macro Economics was introduced by

11. How many methods can be used for cultivation?

12. If total expenditure decreases with the rise in price elasticity of demand will be

13. The marginal cost curve always intersects the averages cost curve at

14. Personal income includes

15. A monopolistically competitive firm in short run equilibrium

16. The supply of land is

17. The reward for capital is called

18. The market structure in which strategic considerations are most important is

19. Income elasticity shows the relationship between

20. If pen and ink are complements, then an increase in the price of the pen will cause