National Income Accounting — Economics STD 12 Humanities & Commerce — Question

The soft drink market is dominated by coke, Pepsi and very few other firms. The firms often start price wars. The market can best be classified as:

1. Perfect competition.
2. Monopolistic competition.
3. Oligopoly.
4. Monopoly.

An economy is broadly classified as:

1. Market economy.
2. Centrally planned economy.
3. Mixed economy.
4. All of the above.

The various monetary policy measures that can decrease aggregate demand, and thus, control the problem of excess demand are:

1. Increase in the bank rate.
2. Sale of government securities in the open market by the central bank.
3. Raising CRR and SLR.
4. All of them.

The firm in a perfectly competitive market is a price taker. This designation as a price taker is based on the assumption that __________________.

1. The firm has some, but not complete, control over its product price.
2. There are so many buyers and sellers in the market that any individual firm cannot affect the market.
3. Each firm produces a homogeneous product.
4. There is easy entry into or exit from the market place.

When the total fixed cost of producing 100 units is ₹ 30 and the average variable cost ₹ 3, total cost is:

1. ₹ 3.
2. ₹ 30.
3. ₹ 270.
4. ₹ 330.

A Government budget is prepared for a fiscal year running from:

1. 1st January to 31st December.
2. 1st April to 31st December.
3. 1st April to 31st March.
4. 1st January to 30th April.

Which of the following options is a le property of an indifference curve?

1. It is convex to the origin.
2. The marginal rate of substitution Het is constant as you move along an indifference curve.
3. Marginal utility is constant as you move along an indifference curve.
4. Total utility is the greatest where the 45 degrees line cuts the indifference curve.

What can be the minimum value of investment multiplier?

1. 0
2. 1
3. 2
4. 5

Which of the following affects national income?

1. Goods and Services tax.
2. Corporation tax.
3. Subsidies.
4. None of the above.