Determination of Income and Employment — Economics STD 12 Humanities & Commerce — Question

Giving reasons, state whether the following statements are true or false.
Marginal utility of the first unit is equal to Total Utility.

Higher cash deposit ratio implies higher credit creation capacity of the commercial banks. (True/ False)

Giving reasons, state whether the following statement are True or False.
If there is decrease in supply, producer moves downward along the same supply curve?

State giving reasons, whether the following statements are true or false:
When there are diminishing returns to a factor, Total Product first increases and then starts falling?

Giving reasons, state whether the following statement are True or False.
Elasticity of supply explains qualitative relationship between supply and price of a commodity.

Budget shows monetary policy of the government. (True/ False)

Giving reasons, state whether the following statements are true or false.
Law of demand states that price and demand are positively related to each other.

Giving reasons, state whether the following statements are true or false.
When there are diminishing returns to a factor, total product first increases and then starts falling.

Higher Indifference Curve indicates higher level of satisfaction. (True/ False)

Profits earned by a company in India, which is owned by a non-resident is included in the estimation of national income. (True/ False)