The theory of the firm under perfect competition — Economics STD 12 Humanities & Commerce — Question

Giving reasons, state whether the following statements are true or false.
Exports do not form a part of domestic factor income.

Giving reasons, state whether the following statement are true or false.
When marginal revenue is positive and constant, both average and total revenue will increase at constant rate.

Macroeconomics is the study of individual and small group of individuals.

State giving reasons, whether the following statements are true or false:
Marginal Revenue is always the price at which the last unit of the commodity is sold.

Consumption depends on investment in the economy. (True/ False)

To control deflation the central bank should increase the bank rate. (True/ False)

Giving reasons, state whether the following statements are true or false.
On a demand curve where it touches X-axis elasticity of demand is Infinity?

Consumption of fixed capital is added to gross domestic income to obtain national income.

Giving reasons, state if the following statements are true or false:
An increase in the price of Coke would result in decrease in the demand for Pepsi.

Are the following statements true or false? Give reasons.
Government budget is a statement of actual receipts and payments of the government.