Market Equilibrium — Economics STD 12 Humanities & Commerce — Question

Potato chips and popcorn are substitutes. A rise in the price of potato chips will .............. the demand for popcorn and the demand of potato chips will

1. Increase; increase.
2. Increase; decreases.
3. Decrease; decrease.
4. Decrease; increase.

In the context of producer’s equilibrium which one is wrong:

1. Minimum difference between TR and TC.
2. MR=MC.
3. Producer gets maximum profit.
4. In equilibrium situation producer has no tendency to change his production.

The demand curve of a monopoly firm will be ________.

1. upward sloping.
2. downward sloping.
3. horizontal.
4. vertical.

When AR passes through minimum point of AVC, it is called:

1. Breakeven point.
2. Shutdown point.
3. Normal profit point.
4. Supernormal profit point.

When percentage change in demand is less than percentage change in price, demand is:

1. Perfectly inelastic.
2. Perfectly elastic.
3. More than unitary elastic.
4. less than unitary elastic.

Who is the fiscal agent and adviser to government in monetary and financial matters in India?

1. SBI.
2. IDBI.
3. ICICI.
4. RBI.

Quantitative instrument of RBI can be:

1. Bank Rate policy.
2. Cash Reserve Ratio.
3. Statutory Liquidity Ratio.
4. All of them.

Gross Investment = Net Investment + ______.

1. Net Indirect Tax.
2. Reserve.
3. Depreciation.
4. None of these.

Which one of the following items is an intangible item in balance of payments statement?

1. Export of food grains.
2. Import of crude oil.
3. Banking services provided in other countries.
4. Import of steel by steel industry.

A government shows a primary deficit of 10,000 crore. The revenue expenditure on interest payment is 8000 crore. How much is the fiscal deficit?

1. 8000 crore.
2. 18000 crore.
3. 1000 crore.
4. 8000 crore.